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Welcome to your perfect coastal retreat! 8 Cook Terrace offers an exceptional opportunity to enjoy Connecticut shoreline living in a peaceful setting, perfectly located for both relaxation and convenience - combining comfort, location, and truly manageable, low-cost living within the Green Acres Park community. This bright and cozy 440 sq ft home is thoughtfully designed to make the most of its space, featuring 1 bedroom, 1 full bath, a comfortable living area, and a practical kitchen ideal for everyday living. In-unit laundry and propane heat add to the home's comfort and efficiency, while the home's size and layout make ownership refreshingly simple and economical. Set on a desirable corner lot, the property provides added privacy, a sunny deck, and outdoor space perfect for relaxing, enjoying morning coffee, grilling, or spending summer evenings outside. Lovingly maintained and easy to care for, this home offers low-maintenance living with real savings potential. The location truly seals the deal - just minutes from Westbrook's beaches, marinas, shoreline restaurants, and shops, with quick access to I-95 and nearby Old Saybrook. Whether you're looking for a year-round residence, a weekend escape, or a seasonal shoreline home, this property offers flexibility, comfort, and outstanding value. Monthly land lease of $830 includes water, trash pickup, and snow removal. A rare chance to enjoy simple, affordable living in a great coastal location! Park approval must be obtained prior to closing. Owner Occupancy required. Property sold as-is. Cash or specialized financing may be required for homes on leased land. Easy to show with notice. Lot approximately 0. 7 acre. Pets allowed- restrictions may apply.
| Type | Level |
|---|---|
| Dining Room | Main |
| Living Room | Main |
| Primary Bedroom | Main |
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Frank.Kolb@raveis.com
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 | $61,520 | $61,520 | $61,520 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.375% | 5.625% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.395% | 6.557% | 5.990% |
| Monthly Tax Payment | $15 | $15 | $15 |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $369 | $384 | $507 |
| Total Monthly Payment | $458 | $473 | $596 |
* 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. The Total Monthly Payment does not include the estimated HOA/Common Charge payment.