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Incredible opportunity to build on the most picturesque 2 acre lot off the end of the cul de sac on desirable Cattle Pen Lane in southern Ridgefield. This is the last developable lot of the original subdivison and backs up to 168 acres of State open space with an equestrian/conservation easement for access to the Wilton riding trail system. A respected local builder has owned this prime property for over 30 years. The lot is fully approved and there are no FAR limitations (grandfathered), so a sizable home could be built, as long as it meets the other current zoning regulations and setbacks. In 2000, a 5BR septic plan was designed and approved. Attached to the listings are deeps and percs, surveys, prior septic approval, and concept drawings with floor plans and elevations for a home that the owner designed. Unlimited potential to build your dream home in premier southern location, close to Wilton and Rt. 7 for commuting/trains, and minutes to historic downtown Ridgefield. Speaking of history, see full story of the origin of Cattle Pen Lane which became a town road in 1985 and was named after "an old stone-walled cow enclosure alongside the road, " in the additional public remarks section (from Jack Sander's history of Ridgefield by street). Spectacular setting for a spectacular new home awaits! The virtual photos of the potential home are designed with the current topography to give you a realistic look of how the home would look from the front to the views from the back. CATTLE PEN LANE Here's a road that, having once belonged to Yale, could have been named for a bulldog. Instead, it's named for cows. Cattle Pen Lane is a 1, 300-foot dead-end road off lower Nod Road, serving the 1983 "Nod Hollow" subdivision of nine lots. The land had been owned by Walter H. Cook, a Yale University alumnus who bequeathed it to the university upon his death in 1978. Mr. Cook came to Ridgefield in 1941 after retiring from the Phoenix Mutual Life Insurance Company. Yale sold to the developers, John J. Murren and Robert J. Kane. When Mr. Murren asked this writer for a name for his new road, something to do with Yale - such as Yale Lane - was suggested since the sale of the land had benefited Connecticut's oldest university. The developer immediately rejected the idea. "I went to UConn, " he said. "We always hated Yale. " He chose to name the lane after an old stone-walled cow enclosure alongside the road. Like most of Ridgefield, this was once farmland. Cattle Pen Lane became a town road in 1985.
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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 | $479,200 | $479,200 | $479,200 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.625% | 6.125% | 5.375% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.258% | 6.304% | 5.628% |
| Monthly Tax Payment | N/A | N/A | N/A |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $2,759 | $2,912 | $3,884 |
| Total Monthly Payment | $2,851 | $3,004 | $3,976 |
* 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.