Being sold with behind lot #187, 190 & 103. One of the most prestigious horse farms in America during its height, "Sandy Point Farm" is the last vestiges of the original 280-acre Vanderbilt Estate. Designed by Architect A. S. Walker, The Sandy Point Stables were built beginning in 1860, with completion in 1902. Owner Reginald Claypoole Vanderbilt son of Cornelius Vanderbilt and grandfather to CNN's Anderson Cooper, grew up at The Breakers, his family home in Newport. A horse breeder and avid sportsman he spared no expense in building the magnificent property. The structure built with main beams of 2 x 24 cypress features three separate rooflines, with cupolas at the 60' peak of the riding ring. Renowned for its prominence in the horse industry Sandy Point Farm was the epicenter for society during the summer social season. Housing 24-stall stables, a 150 ft 15, 000 square foot indoor riding arena, grooms' quarters, and a guest lounge it the building now stands as an integral part of the history of Rhode Island and a reminder of a glorious era in American horse sports.
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William Raveis Mortgage, LLC
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Whitney.Rugg@raveis.com
NMLS Mortgage Loan Originator ID 7654
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $2,800,000 | $2,800,000 | $2,800,000 |
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 | $1,980 | $1,980 | $1,980 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $17,240 | $18,628 | $24,777 |
Total Monthly Payment | $19,345 | $20,733 | $26,882 |
* 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.