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This newly painted Commercial building on the southwest corner of US Route 7 & McKinley Avenue, with 4, 874 sq ft of heated area on the 1st floor is on 1. 4 acres strategically located at the north “Gateway” to Rutland’s business area . It is currently leased by an appliance dealer, Rutland Appliance, Inc. , but could be occupied by the business of a buyer with reasonable notice to tenant allowing them to relocate their business. Not included in the above bldg square footage is the 1760 ft. ² unheated, uninsulated 2nd floor in need of renovation. There is also a 960 ft. ² detached storage barn. Deed to subject property is subject to a right of way over and along the roadway or driveway, formerly known as the “old Mill Road“ across the southeasterly portion of Subject property. Said right of way runs southwesterly from US Route 7 to a structure on the adjacent parcel south and west of subject. property. Subject property is located in a flood zone, the map for which will be among the documents associated with this listing.
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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 | $270,000 | $270,000 | $270,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.875% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.324% | 6.524% | 5.846% |
| Monthly Tax Payment | $516 | $516 | $516 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $1,597 | $1,684 | $2,224 |
| Total Monthly Payment | $2,188 | $2,275 | $2,815 |
* 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.