A RARE FINANCING OPPORTUNITY FOR TODAY’S BUYERS! This home has an existing mortgage with approximately $335,000 remaining at an incredible 3% fixed interest rate that may be assumed by a qualified buyer.
What does that mean in plain English? Instead of financing the entire purchase price at today's mortgage rates, an… Read More approved buyer can take over approximately $335,000 of the seller's existing mortgage at just 3% interest and finance only the remaining balance separately.
For example, on a $610,000 purchase with 10% down, approximately $335,000 could remain financed at 3%, leaving approximately $214,000 to finance separately. If that additional financing were obtained at 6.5%–7%, the balance-weighted rate across the two loans would be approximately 4.4%–4.6%.
And unlike a temporary builder rate incentive that may expire after the first year or two, the 3% rate on the assumed portion remains in place for the remaining term of that existing loan.
This could represent a significant financing advantage for the right buyer. Buyer must qualify for the mortgage assumption, and availability, terms and any secondary financing should be verified with the applicable lenders.
There are backyards. And then there are places where you begin inventing reasons not to go inside. Welcome to 132 Newbury Drive: an upgraded 4-bedroom, 3.5-bath, 2,553-sq-ft home done the way you'd do it, on someone else's dime. Wood-look tile leads to a gourmet kitchen with two-tone cabinets, double ovens and a walk-in pantry. The main-level primary has Craftsman crown molding and a spa bath with soaking tub. Upstairs, a huge loft plus three bedrooms, one with built-ins and a Murphy bed. But the backyard may ruin you for ordinary backyards: covered porch, 350-sq-ft stamped patio with fire pit, landscaped grounds and greenway views. Private, polished, built for long dinners and late evenings. You can find newer homes. Finding one this finished and this private is another matter entirely. Read Less
Courtesy of Mark Spain Real Estate.
Listing Snapshot
Days Online
30
Last Updated
Property Type
Single Family Residence
Beds
4
Full Baths
3
Partial Baths
1
Square Ft.
2,553
Lot Size
0.17 Acres
Year Built
2021
MLS Number
3529056
Additional Details
Appliances & Equipment
Built-In Electric Oven, Double Oven, Cooktop, Gas Range, Dishwasher, Refrigerator
Building
Built in 2021, Year Built Details: Existing, Living area: 2553, Living area units: Square Feet, Levels: Two, Construction Materials: Frame, Hardboard Siding, Brick
Cooling
Central Air, Electric
Energy Saving
Energy Efficiency: Doors, Water Heater
Exterior Features
Patio/Porch Features: Deck, Covered, Patio
Floors
Carpet, Laminate, Tile
Garage
2 spaces
Heating
Central, Natural Gas
Home Owner's Association
Association Fee: $70, Fee Frequency: Monthly, Fee Includes: Maintenance Grounds
Interior Features
Ceiling Fan(s), Walk-In Closet(s)
Lot
0.17 acres, Rolling Slope, Topography: Rolling Slope
Parking
2 covered spaces, 2 open parking spaces, 4 total parking spaces, Garage Door Opener, Garage Faces Front, Concrete, Driveway
Pets Policy
Allowed: Call
Roof
Shingle
Sewer
Public Sewer
Taxes
Parcel Number: 077K B 01400 000, Annual Amount: $3,082
Utilities
Electricity Available, Natural Gas Available, Water Available, Water Source: Public
Find The Perfect Home
'VIP' Listing Search
Whenever a listing hits the market that matches your criteria you will be immediately notified.
Listings courtesy of Realtracs as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information. Use of the MLS GRID data may be subject to an end user license agreement (EULA) prescribed by the Member Participant's applicable MLS if any and as amended from time to time.
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Confirm your time
Fill in your details and we will contact you to confirm a time.