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NEW CONSTRUCTION – DUPLEX TO BE BUILT (LOT INCLUDED) Build your brand-new home on an oversized 0. 52-acre residential lot at 1096 MELVILLE RD in Punta Gorda, located outside of a flood zone with city water and sewer available. The advertised price includes both the homesite and base construction of a modern, thoughtfully designed duplex home by a local builder with experience delivering similar homes in Florida. Buyers may select interior and exterior colors and finishes from the builder’s standard selections prior to construction. The estimated construction timeline is 9–10 months from contract execution to completion and includes permitting. Photos shown are of the same model previously built and include virtual staging. Images are for illustrative purposes only. Finishes, colors, materials, and minor details may vary. Financing pre-approval is required prior to execution of a purchase agreement. Buyer must maintain financing eligibility throughout construction. The construction timeline is an estimate and subject to permitting, inspections, weather, and material availability.
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Our Executive Mortgage Banker:
Our Insurance Division:
$525,000
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 Conforming* |
30 Year Fixed-Rate Conforming |
15 Year Fixed-Rate Conforming |
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|---|---|---|---|
| Loan Amount | $420,000 | $420,000 | $420,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 6.000% | 6.375% | 5.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.407% | 6.577% | 5.986% |
| Monthly Tax Payment | $89 | $89 | $89 |
| H/O Insurance Payment | $92 | $92 | $92 |
| Initial Principal & Interest Pmt | $2,518 | $2,620 | $3,488 |
| Total Monthly Payment | $2,699 | $2,801 | $3,669 |
* 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.