Laura Jewett

Laura Jewett

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Closed

$375,000

($56,717 down)
FHA

6862 Ideal Avenue S, Cottage Grove, MN 55016

5
2
1,956 sqft
PITI Monthly
$2,156.57 /mo

Listing courtesy of: , Diversified Realty

Assumed Rate

2.9%
7.15%

Principal & Interest

$1,412 /mo
$2,291 /mo

What's Special

SPACIOUS
FIREPLACE
CHARMING

Welcome to 6862 Ideal Ave, Cottage Grove, MN! This charming home offers the perfect blend of comfort and convenience, featuring 4 bedrooms and 2 bathrooms. Priced at $375,000, this property is a fantastic opportunity to settle into a welcoming neighborhood in Cottage Grove, MN. Step inside to discover a spacious layout that provides ample room for relaxation and entertaining. The 5 bedrooms offer plenty of space for your family or guests, while the 2 bathrooms, Fireplace, huge finished lower level. Outside, you'll find a well-maintained yard that is perfect for outdoor gatherings or simply enjoying the beautiful Minnesota weather. Whether you're looking to unwind after a long day or host a barbecue with friends, this home has everything you need. Located at 6862 Ideal Ave, this home is situated in a desirable area of Cottage Grove, offering easy access to local amenities, parks, schools, and more. Don't miss out on the opportunity to make this house your new home sweet home. Contact us today to schedule a viewing and see all that this lovely property has to offer!

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
2.9
Remaining Loan Term
26 years, 8 months
Monthly PITI
$2,156.57/mo
Estimated Loan Balance
$322,107
Cash to close
$56,717
Interest Paid
$31,642

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 5
  • Bathrooms: 2
Cooling & Heating
  • Cooling: Central Air
  • Heating: Forced Air, Fireplace(s)
Features
  • Materials: Brick/Stone, Wood Siding
  • Community: Unknown
  • Has Fireplace: Yes
  • Fireplace Features: Unknown
  • Flooring: Unknown

Exterior

Fencing
  • Fencing: Unknown
Roof
  • Roof: Unknown
Parking
  • Garage: Yes
  • Garage Spaces: 2
  • Carport: No
  • Carport Spaces:
Water
  • Sewer: City Sewer/Connected
  • Water Source: City Water/Connected
Pool
  • Has Pool: No
  • Pool Features: Unknown

Construction

Type & Style
  • Stories:
  • Home type: Single Family Residence
  • Architectural Style: Unknown
Materials
  • Brick/Stone, Wood Siding
  • Roof: Unknown
Condition
  • Year Built: 1978
Details
  • Builder:

Community & HOA

Community
  • Subdivision: Highlands 2nd Add
  • Features: None
HOA
  • Has HOA: No
Location
  • Region: Cottage Grove

Financial Details

  • Price per Sqft: $191.72
  • Tax Annual Amount: $4251
  • On Market Date: 2024-09-20T00:00:00.000Z
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $56,717 (15%)
You can enter any amount below - secondary financing will cover the difference if needed.
15%
$

You cover the entire equity of $56,717!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.9% Sellers Rate
$318,283
Your Cash$56,717
Total Purchase Price:$375,000

Assumed vs Traditional Mortgage

Assumed @ 2.9%
$1,412/mo
Traditional @ 7.5%
$2,377/mo
You save $965/month ($11,576/year)

*Secondary financing rates are an estimated value based on input

MLS ID: NST6606344

Listing From: northstar

Last updated: 2024-09-30T14:26:02.000Z

© , northstar. All rights reserved. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website comes in part from the Broker Reciprocity Program. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. IDX information is provided exclusively for consumers’ personal, non-commercial use and that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed to be accurate. Listing information updated daily.

Assumed Rate

2.9%
7.15%

Principal & Interest

$1,412 /mo
$2,291 /mo
Inquire about this property

We will reach out to you with more details

Apply to Assume

Fill out an application to explore financing options for assuming this loan.

Apply now

Savings Calculator

Current cash to close is $56,717 (15%)
You can enter any amount below - secondary financing will cover the difference if needed.
15%
$

You cover the entire equity of $56,717!

Enter a smaller amount if you prefer to use secondary financing.

Loan Breakdown

Assumed Mortgage2.9% Sellers Rate
$318,283
Your Cash$56,717
Total Purchase Price:$375,000

Assumed vs Traditional Mortgage

Assumed @ 2.9%
$1,412/mo
Traditional @ 7.5%
$2,377/mo
You save $965/month ($11,576/year)

*Secondary financing rates are an estimated value based on input

Follow Us
UMe Assumptions
Agent/Broker
Laura Jewett(480) 628-2563laura@azinspiredliving.comMLS SA525254000

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© Listing Service, All rights reserved. The data relating to real estate for sale on this website comes in part from the Listing Service. Real estate listings held by brokerage firms other than are marked with the Listing Service logo and detailed information about them includes the name of the listing brokers. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) nor Listing Service shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.

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