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Special Financing Program for Sea Mist Resort
- Beach First National Bank will offer qualified buyers a 75% 3-year Adjustable Rate Mortgage amortized over 30 years. Payments will be fixed for the first 3 years and then adjust monthly based on the Prime Rate.
- Developer will provide a 20% second mortgage, during the 3-year period or until the loan is refinanced, whichever occurs sooner.
Loan Program and Cash Due at Closing
Purchase Price - $ 194,900
Loan Amount - 185,155
Remaining Balance Due - 9,745
Estimated Closing Costs - 3,000
Cash Due at Closing - $ 12,745
Blended 1st and 2nd Mortgage
Interest Rate - 7.00%*
Loan Points Paid by Borrow 0
Loan to Value 95%
Monthly and Annual Payment Estimate
Loan Principal & Interest Payment - $ 1,067.50
Property Taxes - 191.00
HOA Dues Including Insurance - 414.00
Total Monthly Payment - $ 1,672.50
Total Annual Payment - $ 20,070.00
* Rates are subject to change based on market conditions.
To Pre-qualify Contact:
Harry Bates – Beach First National Bank
(843) 839-7788
hbates@beachfirst.com
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