3 Bedroom 2 12 Bath 1650sq ft FSBO

3 Bedroom 2 12 Bath 1650sq ft FSBO

259000 / 3br — 1650ft — 3 Bedroom 2 1/2 Bath 1650sq ft FSBO (Silverdale)

11903 Avellana circle NW

3 BR / 2.5 Ba 1650 ft 2 house available nov 01

w/d hookups attached garage

Looking at overseas jobs, trying to gauge interest in house for a quick VA assumption(must have VA entitlement eligibility to transfer to replace ours) with an additional cash buy out/down payment fee, +closing costs, and a non-refundable qualifying/transfer fee of $273 due to mortgage company James B Nutter Co at time of application.

*The assumption would be a balance of approx $238,842.26, this balance would be adjusted at closing to reflect any payments that have been made to loan.

*There would be a cash buy out/down payment amount of $15,000, this is the difference between the extreme low end market value of the house and the remaining balance on loan(sale pending on identical house on the circle for $255,000). If you want seller to pay closing costs this buy out will be $20,000—so this would need to be the personal loan amount you would need to qualify for outside of qualifying for assumption.May affect your debt/income ratio so beware of that. For the assumption our mortgage rate is 3.25% so you need a stellar credit rating probably 750 +, and a low debt/income ratio, plus adequate entitlement amounts in VA to cover the $238,842.26.

*Great deal for right buyer if you qualify as rates are in 4% + range for stellar credit could save you 1000’s in finance charges plus the length of loan is reduced by the couple years we have been in the house ($32,000 savings 1359 *24 months),you would have instant equity, as Redfin estimates the house value between 260,000-300,000 on homes recently sold in zip code. 5 minutes from Bangor bases Trigger gate, Central Kitsap schools.

* Another plus to doing an assumption instead of conventional loan you could immediately take advantage of the new refinance rates that just went out for VA people in Washington and do a cash out refinance with a lender of your choice in the 2.6 % range and save yourself even more $$$ @ $45,000 over the life of the loan. And pay off your down payment loan. Benefits galore. A very smart choice if you love the house.

*BUYER would also be paying closing costs, title company fees[House inspection if you want one(I still have ours only thing that’s changed is we have added bamboo floors to first level, kitchen island was removed hasn’t been replaced haven’t gotten to the kitchen remodel yet), doc prep,closing fees, recording fees,title insurance,warranty if you want one, etc].

* There’s no Realtor fees factored in or need for new Va appraisal required since you would be assuming the loan, those costs would not apply that saves you $$$ and time as this cost is generally transferred to the buyer with increase in sale price @$15,000—-Stewart title in Silverdale Wa has the info on the house and could provide you a total estimate of closing costs on an assumption.

3 Bedroom 2 12 Bath 1650sq ft FSBO

*The VA charges @ 1/2-1% funding fee of loan balance. if you are a disabled veteran this fee does not apply but in the case of an assumption it CAN NOT be rolled into the loan so I estimate closing costs you would be responsible for would be @ $5,000. including this 1% fee due at closing with buy out/down payment fee of $15,000 required to start the assumption. If deal falls through for any reason $10,000 is refundable, so please make sure your ducks are in a row and you are in a good position to make an offer official. Can show house by appointment only but, you are welcome to drive by and checkout the area see if you want to make an appointment.

  • do NOT contact me with unsolicited services or offers

post id: 4672492169

posted: 2014-09-17 9:47am

updated: 2014-09-17 10:39am

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