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Exclusive Beachfront Property with 125' on the Gulf and 125' on the inland waterway at the end of a private road. Palm Island is a barrier island between Sarasota and Lee County and the last island serviced by regular car ferries. The lot is zoned for building a large home and guest house with private boat dock. The certified survey attached in the photos states that the size of the. property is 1. 6 acres. This island has both paved and sand roads, crystal clear turquoise gulf water, seven miles of soft sandy beaches, no high rise building, no traffc, and no stoplights. Nature abounds here. If you did not know, you would believe that you were in the Bahamas. Cars and golf carts travel all island roads. Because the island is located directly across the intracoastal waterway, two ferries operate approx every 15 minutes, one from the island and the other from the landside loading dock. Each ferry can carry eight automobiles or two 18 wheel tractor trailer trucks. See Photo. The island has underground utilities including electric, city water, and cable. Major box stores are only 1-3 miles from the landside dock. The small resort at the north end offers the public and islanders a tropical restaurant and bar, ice cream store with some provisions, and golf cart rentals. The food is good and the bar is very friendly! You have arrived, and now you will enjoy the tropical breezes, sound of wave, miles of beach shells, and the peace and quiet you Deserve.
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Our Executive Mortgage Banker:
Our Insurance Division:
$1,800,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
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5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
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|---|---|---|---|
| Loan Amount | $1,440,000 | $1,440,000 | $1,440,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.000% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.241% | 6.110% | 5.972% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $8,176 | $8,634 | $11,958 |
| Total Monthly Payment | $8,301 | $8,759 | $12,083 |
* 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.