370 Acres (mol) with frontage on busy Cortez Blvd (SR 50) and Emerson Road that is currently zoned Agriculture, and has 4 parcels all being sold together. Multifamily and Single Family Development opportunity with the Master Plan to be reactivated for rezoning of approximately 88 acres with a Flood Zone of X. (Other 3 parcels are AE) The Master Plan that was approved for rezoning to CPDP by Hernando County has since expired. It was originally approved for a 263 unit with combined single family and multifamily housing development with a mix of 6, 600 sf and 1 acre lots. This beautiful property has rolling hills, open meadows, has a nice variety of trees, and a small amount of frontage on the lake. Included with this land is a 4 bedroom home with a pool set on top of the highest point of the property and has incredible views. There are remains of older farm buildings that are not being used. Key#: 01249358, 00362280, 00362057, 01355599 Old Survey attached/Being Sold As Is.
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William Raveis Real Estate
RVP, Mortgage Banker
William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
5/6 (30 Yr)
Adjustable Rate Jumbo*
|Term||360 months||360 months||180 months|
|Initial Interest Rate**||7.500%||8.000%||7.500%|
|Interest Rate based on Index + Margin||7.875%|
|Annual Percentage Rate||8.035%||8.149%||7.731%|
|Monthly Tax Payment||N/A||N/A||N/A|
|H/O Insurance Payment||$125||$125||$125|
|Initial Principal & Interest Pmt||$47,547||$49,896||$63,037|
|Total Monthly Payment||$47,672||$50,021||$63,162|
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.