Super Opportunity for Disabled Vets
The home is 3500 square feet valued at approximately $479,000. Before you think that's not possible, consider the facts:
- Two or three vets could do this together.
- The home loan is assumable. Yes you must qualify.
- The max VA loan amount is now $453,100 so you would have to come up with the difference of 425,900.
- With 100% disability property taxes are waived - not deferred but waived, making the monthly payment just P&I (1776) and insurance ($222) = $1998.
- Before concluding that $1998 is 'too much' consider that homes in the are are appreciating at a minimum of 6% per year. Let's knock that down to 3% so monthly appreciation is (3% / 12 ) = .25% on $479,000 = $1198 for a net cost of $1998 - $1198 = $800.
- The value of the interest deduction ($1028/mo) depends upon your tax bracket so assuming a 20% tax bracket, the monthly cost of $800 is reduced by 20% to $640.
- Now, there's a very large and beautiful 'office' with private street and patio French-door entrances, floor-to-ceiling windows with built-in blinds and custom blinds - a full closet, separate bath with shower and more cabinet space. There's a very large floor-to-ceiling 'bookcase' on the interior wall.
Why am I selling such a wonderful property? I'm 70 with a 12-year-old daughter. (Don't ask.) We will lose her share of social-security payments in 6 years and my business income ain't what it used to be. Short answer: "We can no longer afford the monthly cash outlay and we'll be able to afford it even less in 6 years."
I'm a fellow vet (Vietnam era) so this is straight up. I would love to stay here but I'm going old and I have gotten tired. We need to reduce our living expenses and it's time to say goodbye to this home which has been a blessing.
We painted it inside and out when we moved in, in 2012. The backyard has extensive landscaping. Purchase will include a brand-new roof. 3-car garage with immaculate built-in cabinetry. 10 minutes from 3 marinas on the best stripper lake in the world.
Breaks my heart to depart with it but...