Berlin, MD
$8,000 Tax Credit for First-Time Buyers, $6,500 for Current Homeowners* and Special Ryan Savings for EVERY Buyer!** ‡
Purnell Crossing invites you to experience the ultimate in small town charm and beach living. This intimate enclave of just 46 gracious villa homes offers a luxurious, low-maintenance lifestyle that’s within walking distance of quaint downtown Berlin and minutes to shopping, dining and everyday conveniences.
• Located in Berlin, MD
• Up to 3 bedrooms and up to 3 ½ bathrooms
• 1-car garage
• Gracious villa homes with professional landscaping, architectural shingles and brick, 1st floor owner’s suite and today’s most sought-after features
• Custom options include sunroom, basements and more
• Intimate enclave of just 46 villa homes
• Low-maintenance lifestyle
• Walking distance to quaint shops of charming Berlin
• Easy access to shopping, dining and everyday conveniences
*Federal tax credit up to $8,000 for first-time buyers and $6,500 for move-up buyers available on homes under contract as primary residences by 4/30/2010 and settled by 6/30/2010. $8,000 tax credit is for first-time buyers or those who have not owned a primary residence in 3 years. The $6,500 credit is Available to Move-Up Buyers who have maintained the same principal residence for any 5-consecutive year period during the 8-year period ending on the date of the settlement. Income limitations and other restrictions apply. We suggest you consult a Certified Public Accountant and IRS.gov for tax advice and official requirements. **Savings vary by community. Available on new sales contracts through 11/30/09. Prior sales and homes under construction excluded. Cannot be combined with any other offers. Must use NVR Mortgage, Inc. to receive incentive. Prices, offers and financing subject to change without notice. See a Sales and Marketing Representative for details ***Home sale contingency program for move-up buyers available for a limited time when financing through NVR Mortgage, Inc. See a Sales and Marketing Representative for details.
Directions:
From Salisbury:
-Take Route 50 East towards Berlin
-Turn right on Old Ocean City Blvd (RT 346)
-The Model home is 1/2 mile on right.
From Ocean City:
-Take Route 50 West towards Berlin
-Turn onto 113 South
-Turn right on Old Ocean City Blvd (RT 346)
-Go straight accros Main St.
-The Model home is ¼ mile on left.
From 113:
-Go west on Old Ocean City Blvd (RT 346)
-Go straight accros Main St.
-The Model home is ¼ mile on left.
Address: 511 Sunlight Lane, Unit 3, Berlin, MD 21811
‡ This is a limited time offer and available only on new contracts when financing through NVR Mortgage. Please consult our sales representative for details.
Models Available
Starting from the Upper $170's
**Limited time only. Financing based on a 30 Year FHA loan, with an interest rate of 4.5%, an APR not to exceed 5.179%, and 3.5% down payment. Monthly payment assumes the base sales price of the community which includes principal, interest, estimated taxes, insurance, up front mortgage insurance premium and estimated tax savings based on a 28% income tax rate. We recommend that you consult a Certified Public Accountant regarding your specific tax situation and details. Monthly payment does not include homeowner's association dues. Monthly payment includes condominium association dues. The borrower is paying 0.125 discount point(s). A 1% origination fee is paid by the buyer. Mortgage insurance is included in these examples because the LTV is 96.5%. Qualifying and rates on loan programs may vary based on credit criteria, final amount of down payment, and are subject to current market pricing. APR may vary depending on rate and final loan program. Certain restrictions may apply. Rates effective 11/26/2009 and subject to change without notice. Prices, offers and financing are subject to change without notice. See sales representative for details.
Product: 30 Year FHA
Sales Price: $176,990
Interest Rate: 4.5%
Downpayment: 3.5%
Property Tax Rate: 1.8%
Origination Fee: 1%
Discount Points: 0.125%
Hazard Insurance: 0.14%
PMI: 0.55%
Up Front MI: 1.75%
Downpayment Estimate: $6,195
Loan amount: $173,784
Up front mortgage insurance amount: $2,989
$229 (Principal)
+ $652 (Interest)
+ $265 (Property Tax Estimate)
+ $21 (Hazard Insurance Estimate)
+ $80 (PMI Estimate)
+ $150 (Condo Fees)
- $181 (1st Year Tax Savings Estimate)
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$1,215 : Estimated Monthly Payment