GOLF | WEATHER | Investing in Real Estate 101 
Seller will pay first year’s mortgage for buyers who qualify for Merrill Lynch loan.
Up to 90% Loan-to-Value for a 5 year interest only ARM.

Example:
Purchase Price

Loan Amount

Interest Rate

Annual Mortgage Payment

$300,000

$270,000

6.25%

$16,875
  • Loan-to-value and interest rate subject to applicant’s credit score and other mortgage obligations.
  • The first year’s mortgage payment will be paid from seller proceeds.
  • Buyer will be responsible for all HOA, insurance and property taxes.

Homeowner’s Association Fee/Month—by floor plan/square footage

A & B

D

E & F

H

I

Lockout

 $319.00

$364.00

$581.00-most available units are plan E

$649.00

$672.00

$683.00


A one time insurance fee at closing for the first year will be approx. $2000.  After that it will be included in payments.  (Don’t forget to have your lender estimate your prepaids in your Good Faith Estimate!!-We don’t like surprises, do you???)

Taxes computed by this formula:  Purchase price x .06 x .2346 (millage rate ).

10% Down payment on Merrill Lynch Loan-may be negotiated depending on loan qualifications or different Lender (must be approved by ML for pre-qualification purposes or be prepared with an all cash proof of funds letter). Monthly Payment paid for by developer for first year—subsequent years (depends on  Loan that purchaser receives and rates at time of loan app.- Developer will pay equivalent of a 90%LTV, 5 year ARM

Buyer to receive Gross Rental and may opt for developer’s management program or not.
 
Past rental for Coral Beach have averaged approximately $30,000 per year gross and up to $43,000 per year on the lock-out unit.  There is a 45% management fee if the developer manages within their comprehensive rental program.  See vendor list for contact person and numbers.

* Seller will also pay the 1st year’s mortgage insurance if required.