As a mixed use property, the Market Street Townhomes offer a commercial space on the first floor and a residential living space on the second and third floors. If you are interested in this unique type of property as an investment, preview our exclusive financing opportunity with Coastal Community Bank below:
- Current interest rate of 4.73% (subject to change).
- 5 year fixed note with payments reflecting up to a 25 year amortization.*
- 5 year additional extension available. **
- Maximum of 70% Loan-To-Value of purchase price or appraised value (whichever is lower).
- The unit purchased must be considered an investment property (two weeks or less of personal use a year).
- 1% bank loan fee plus all other closing costs.***
- No pre-payment penalties.
*Initial 5 year rate based on Federal Home Loan Bank regular 5/25 rate + 2.40%.
**5 year extension rate based on Federal Home Loan Bank regular 5/25 rate + 2.40% at the time of the extension. Extension monthly payments will increase or decrease to keep on original 25 year amortization.
***Closing costs include a commercial appraisal, title insurance, escrow closing, credit report fee, Deed of Trust recording fee, and 1% bank loan fee. Appraisal fee to be paid in advance of ordering the appraisal after the bank receives three appraiser bids.
All terms are subject to change and borrowers need to meet Coastal Community Bank’s standard underwriting criteria. Terms effective 03.01.2017.