Laura Jewett

Laura Jewett

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Closed

$410,000

($217,624 down)
FHA

705 5th Street, Farmington, MN 55024

5
4
2,605 sqft
PITI Monthly
$1,575.19 /mo

Listing courtesy of: , RE/MAX Results

Assumed Rate

2.27%
7.15%

Principal & Interest

$929 /mo
$1,523 /mo

What's Special

DINING
SPACIOUS
HARDWOOD FLOORS
HOME OFFICE

Wow! This one has it all! 5 Bedrooms (4 on one level), 4 Bathrooms, a private owner’s suite, upper AND lower laundry, separate office, & a huge 3 car garage/shop. Stately on the outside & everything you want on the inside! Main level features a welcoming foyer, a spectacular living room with windows on three sides, formal dining room, home office/main floor bedroom, large powder room, & updated kitchen - all with original hardwood floors. You won’t find any carpet in this home! The wood floors continue upstairs where you’ll find 4 spacious bedrooms, upper-level laundry, & 2 bathrooms including an owner’s private getaway. Don’t miss the heated tile floor! The lower level is nicely finished with a 5th bedroom, family room, & ¾ bath. The unfinished part offers a 2nd laundry & tons of storage space. Outside features raised garden beds, space ready for a future hot tub, & an incredible 3 car heated & insulated garage. Recent improvements include dishwasher (2024), water heater (2023), roof (2022), A/C furnace (2015/16), water softener & electrical box for garage & hot tub (2015). Bonus - seller has recreated all the original woodwork – amazing craftsmanship! This is a one of a kind – don’t miss!!

... Show more

Assumption Snapshot

Type of Loan
FHA
Interest Rate
2.27
Remaining Loan Term
21 years, 6 months
Monthly PITI
$1,575.19/mo
Estimated Loan Balance
$198,521
Cash to close
$217,624
Interest Paid
$16,007

Facts & Features

Interior

Bedrooms & Bathrooms
  • Bedrooms: 5
  • Bathrooms: 4
Cooling & Heating
  • Cooling: Central Air
  • Heating: Forced Air, Radiant Floor
Features
  • Materials: Brick/Stone, Wood Siding
  • Community: Unknown
  • Has Fireplace: No
  • Fireplace Features: Unknown
  • Flooring: Unknown

Exterior

Fencing
  • Fencing: Unknown
Roof
  • Roof: Age 8 Years or Less, Architectural Shingle
Parking
  • Garage: Yes
  • Garage Spaces: 3
  • 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: Age 8 Years or Less, Architectural Shingle
Condition
  • Year Built: 1962
Details
  • Builder:

Community & HOA

Community
  • Subdivision: Green Way Add
  • Features: None
HOA
  • Has HOA: No
Location
  • Region: Farmington

Financial Details

  • Price per Sqft: $157.39
  • Tax Annual Amount: $4146
  • On Market Date: 2024-10-22T00:00:00.000Z
Inquire about this property

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Apply to Assume

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

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Savings Calculator

Current cash to close is $217,624 (53%)
You can enter any amount below - secondary financing will cover the difference if needed.
53%
$

You cover the entire equity of $217,624!

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

Loan Breakdown

Assumed Mortgage2.27% Sellers Rate
$192,376
Your Cash:$217,624
Total Purchase Price:$410,000

Assumed vs Traditional Mortgage

Assumed @ 2.27%
$929/mo
Traditional @ 7.5%
$1,574/mo
You save $644/month ($7,733/year)

*Secondary financing rates are an estimated value based on input

MLS ID: NST6619717

Listing From: northstar

Last updated: 2024-12-06T16:57:02.000Z

© , 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

2.27%
7.15%

Principal & Interest

$929 /mo
$1,523 /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 $217,624 (53%)
You can enter any amount below - secondary financing will cover the difference if needed.
53%
$

You cover the entire equity of $217,624!

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

Loan Breakdown

Assumed Mortgage2.27% Sellers Rate
$192,376
Your Cash:$217,624
Total Purchase Price:$410,000

Assumed vs Traditional Mortgage

Assumed @ 2.27%
$929/mo
Traditional @ 7.5%
$1,574/mo
You save $644/month ($7,733/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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