Special Financing Makes it Easy to Own Vacation PropertyYou can finance your purchase on a contract for deed at 4.25% interest, 10% down and interest only payments for seven years with a balloon payment at the end. Look below for more details.
Walker Lake Preserve Contract Calculator
Walker Lake Preserve Special Financing Terms
WLP Development LLC will provide a contract for deed under the following terms and condtions:
- A binding purchase agreement must be submitted and accepted in 60 days and closed in 180 days.
- WLP Development, LLC will only approve buyers with a satisfactory credit rating and background.
- Buyer provides a minimum 10% of the purchase price as a down payment.
- 5% annual interest compounded monthly on the average balance for the prior month.
- Interest only monthly payments with the full loan amount due after seven years, upon occupying a permanent structure, or one year of securing a site permit for a permanent structure, whichever comes first. Any additional payments made will be used to reduce principle and interest costs.
- If the buyer chooses to pay the interest in advance, rather than in arrears, WLP will provide a more favorable interest rate.
- Estimated closing costs of $1,500. Buyer is responsible for closing costs which vary based on the situation. A good faith estimate of closing costs and actual APR will be supplied upon request.
Cost of ownership also includes association dues and taxes:
- Real Estate taxes are estimated to be 0.70% of purchase price. Actual real estate taxes for a unit can be obtained prior to closing.
- Monthly association dues are estimated at $15.50 for idle units and $31.00 when active. The example assumes the unit is idle, you can uncheck "Is Idle" to see the effect when active.
- Taxes and association dues are subject to change.
- Taxes and interest are assumed to be tax deductible at an estimated combined federal and state marginal tax rate of 35%. You can adjust the estimate with your actual rate in the calculator.
Nothing contained on website constitutes investment or tax advice. In preparing the information contained website, we have not taken into account the needs, objectives and circumstances of any particular individual. Please consult a tax adviser for further information regarding the deductibility of interest, taxes and other charges. The contract calculator above is approximation of the costs. WLP Development LLC is not responsible for any calculation errors. An actual good faith estimate will be prepared prior to closing. If you question any calculation result, please contact us to see if the results are valid. A complete disclosure is available upon request.