Opportunity Knocks! Rare 6 unit all brick apartment building with 1500 warehouse in back on desired Main Ave, Passaic. Property consists of 5 apartments (3 of the apartments are fully renovated and all 5 are rented. ) Roof, boilers, water tanks all less than 10 years old and all utilities except the water are paid by tenants. Great cash flow! Steps to the NJ Transit Bus Line Rt 46, Rt 80 and the GSP. This is an excellent opportunity and will not last.
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Our Executive Mortgage Banker:
Our Insurance Division:
William Raveis Real Estate
VP, Mortgage Banker
William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 5429
5/6 (30 Yr)
Adjustable Rate Jumbo*
|Term||360 months||360 months||180 months|
|Initial Interest Rate**||6.500%||7.125%||7.000%|
|Interest Rate based on Index + Margin||8.125%|
|Annual Percentage Rate||7.582%||7.228%||7.167%|
|Monthly Tax Payment||$1,074||$1,074||$1,074|
|H/O Insurance Payment||$125||$125||$125|
|Initial Principal & Interest Pmt||$9,582||$10,214||$13,626|
|Total Monthly Payment||$10,781||$11,413||$14,825|
* 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.