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Schooner Cove is a highly sought-after private neighborhood located in Narragansett between Scarborough Beach and Roger Wheeler/Sand Hill Cove Beach. This contemporary colonial sits at the end of a cul de sac so close to the ocean that you can always feel the salt air and relax to the sound of the waves on any of the 3 new Trex decks. This home offers an expansive layout with a two-story great room, a gas fireplace, and large clerestory windows. The great room is open to the new eat-in kitchen (new stainless steel appliances and sleek countertops) and leads to a new Trex deck. There are gleaming hardwoods throughout, natural gas, central air, and abundant natural light. The main level also offers a private office/library, a dining room, a sitting room, and a half bath. Of the 4 bedrooms, the primary suite leads to a private new Trex deck, offers a new and expansive primary bathroom with radiant heated floors, and a large walk-in-closet. There are 3 additional bedrooms on the 2nd floor in addition to a laundry closet, and a full bathroom. The walk-out basement includes a brand new full bathroom, a utility room, and a large common 1000+ sq ft unfinished area leading to a new Trex deck & large outdoor shower. Updates include a new roof, heating system, A/C, etc. The walk-out basement is ready to finish to create additional living/recreational space. 61 Schooner Cove Lane is immaculate and offers a private coastal retreat or the perfect year round quality of life in Narragansett.
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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 | $1,356,000 | $1,356,000 | $1,356,000 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 5.500% | 6.125% | 6.000% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 6.165% | 6.259% | 6.183% |
| Monthly Tax Payment | $485 | $485 | $485 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $7,699 | $8,239 | $11,443 |
| Total Monthly Payment | $8,309 | $8,849 | $12,053 |
* 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.