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For the first time in a generation the Mill Tavern is available for purchase. This beautiful post and beam structure built in 1840 was once a 170 seat dining and lounge fixture for second home vacationers in Londonderry VT. The Mill is located in the middle of four major ski resorts at the convergence of Route 11 and scenic route 100 which is one of the most popular foliage drives in all of southern Vermont so there is plenty of daily traffic to support your vision. Many of us grew up and created lots of memories spending time at the Mill. The owner is hoping to find someone who shares his vision of what the property once was and could once again be. Historically, the Mill was only open during the winter months, but the business numbers could be improved tremendously if you opened up year round. The charm of the original restaurant is still there, but the building is in desperate need of some repairs. The building badly needs a roof and some internal damage from the the flooding needs to be fixed. This would be a cash sale. Most likely not mortgageable.
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$250,000
William Raveis Real Estate
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NMLS Mortgage Loan Originator ID 81725
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5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $200,000 | $200,000 | $200,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.250% | 5.875% | 5.125% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.112% | 6.520% | 5.415% |
| Monthly Tax Payment | $429 | $429 | $429 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,104 | $1,183 | $1,595 |
| Total Monthly Payment | $1,608 | $1,687 | $2,099 |
* 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.