Have you always wanted to be an Innkeeper? There are many advantages of owning a B&B or Country Inn. The main advantage: The owner lives there literally free! Nearly all expenses such as housing (mortgage, taxes, and insurance) are paid from revenue guests pay for the privilege of staying at your inn. Much of your vehicle and food expense are also covered. Some Innkeepers choose not to draw a salary for that reason. Sounds great and it is all true but it also includes the work of managing the inn. (After all, we all know there is no free lunch. ) Innkeepers are “jacks of all trades” they are cooks, bookkeepers, marketing experts, travel agents, handyman, and almost always charming and much more. Finding the right location is one of the keys to success. The location of the Colonial House Inn and Motel, in Weston, Vermont is a slam dunk. Weston is the home of the Vermont Country Store which takes visitors back to a bygone era where you can get lost for days. Weston is also the home of the Weston Priory, and the Weston Theater Company. Its central location in the heart of the green mountains is also proximate to many well known ski areas. Okemo, Stratton, Bromley, and Magic are all a short drive. The location doesn’t get much better than this. If it is your dream to live in spectacular surroundings and be your own boss, give it your best shot! If a mortgage will be required, you will need a 20% to 30% down payment and have good credit.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,100,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 203.415.2989
Brian.Skelly@raveis.com
NMLS Mortgage Loan Originator ID 793093
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $880,000 | $880,000 | $880,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 6.250% | 7.000% | 6.750% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.481% | 7.103% | 6.915% |
Monthly Tax Payment | $868 | $868 | $868 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $5,418 | $5,855 | $7,787 |
Total Monthly Payment | $6,411 | $6,848 | $8,780 |
* 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.