Wishing you could buy your very own apartment instead of being a slave to the roller coaster rental market? Well check out this Spectacular Apartment with monthly payments that are LESS THAN if you rented it! If you're tired of paying someone else's mortgage and afraid you'll have to move every year because of unpredictable rent hikes then this may just be the place for you! At the rock bottom price of $80, 000 your monthly mortgage and maintenance payments will be WELL BELOW THE AVERAGE rental price of a studio. According to Rentometer, a research firm that studies rental market rates, the Average Rent of a Studio in Jamaica, Queens is $1, 980 PER MONTH*!!!! That is INSANE!! *Rentometer data collected as of June 21st, 2023 Please don't let the price fool you! This Sprawling Alcove Studio is large enough to allow you the freedom of laying out furniture in various ways - it's a budding designer's dream! Just take a look at how our designer virtually furnished the apartment and you'll see their brilliant layout. And if you're a sun worshiper you'll marvel at the amount of light flooding this beautiful home. The well maintained Avalon Terrace offers a laundry facility, elevator, parking garage (currently has a waitlist) and is a short distance to great retail shopping on Jamaica Ave, the 169th St F Train Station, the main branch of the Queens Public Library, tons of great eateries, and so much more!
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Our Executive Mortgage Banker:
Our Insurance Division:
$115,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.Alvarez@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
|
---|---|---|---|
Loan Amount | $92,000 | $92,000 | $92,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 7.250% | 6.990% | 5.990% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 7.945% | 7.133% | 6.256% |
Monthly Tax Payment | $0 | $0 | $0 |
H/O Insurance Payment | $75 | $75 | $75 |
Initial Principal & Interest Pmt | $628 | $611 | $776 |
Total Monthly Payment | $703 | $686 | $851 |
* 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.