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Exceptional Legal School and Dormitory in Town of Ramapo! This property is a rare find with tremendous opportunities! Discover this Recently renovated and spacious legal school and dormitory featuring an open layout across three floors plus two trailers, totaling 6, 496 sq. ft. This property offers so much potential, allowing you to change the layouts to meet your educational needs! The first floor includes an oversized room used as a lunchroom, a kitchen, a gym, a bedroom, and two bathrooms, providing a functional and welcoming environment. The second floor consists of five bedrooms and five bathrooms, featuring four showers and generous walk-in closets. The basement is designed with three large classrooms and three offices, along with two bathrooms, one shower, and a laundry room, making it ideal for educational activities. Additionally, the full walk-up attic offers endless possibilities for use, whether for storage or further development. Two connecting trailers outside were used as a house of worship, and can be adapted to your needs. Set on a 3+ acre lot, the property features a huge parking lot, a basketball court, and an oversized porch. Enjoy stunning panoramic views of the Appalachian mountains with a stream running through the backyard, all while being located on a main state road for easy access. Create your own haven in this amazing property that offers everything you need—ready to move in today!
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William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Senior Vice President - Coaching & Strategic
William Raveis Mortgage, LLC
Phone: 203.980.8025
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 | $12,000 | $12,000 | $12,000 |
| 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 | N/A | N/A | N/A |
| H/O Insurance Payment | $75 | $75 | $75 |
| Initial Principal & Interest Pmt | $72 | $75 | $100 |
| Total Monthly Payment | $147 | $150 | $175 |
* 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.