Down payment assistance programs and low-interest fixed rate loans make owning a home in The Avenues possible with only a 1% down payment and a fixed monthly mortgage payment as low as $589 per month. These financing options are endorsed by The Avenues partners, including the Punta Gorda Housing Authority, The Housing Corporation of Charlotte County and the City of Punta Gorda.
- Everyone is eligible to buy a home at The Avenues.
- Homeowner down payment assistance programs are available.
- Each customer receives a specially designed finance purchase plan.
- Free credit counseling available.
See for Yourself!
Here are two examples of how affordable The Avenues homes can be:
| Household income |
$28,450 |
$42,720 |
|
|
|
| List price of home |
$176,500 |
$176,500 |
| City of Punta Gorda credit |
-$10,000 |
-$10,000 |
| Sales price |
$166,500 |
$166,500 |
|
|
|
| Down payment |
-$1,665 |
-$1,665 |
| Cornerstone (SHIP) program |
-$30,000 |
-$30,000 |
| Homeownership Assistance (HAP) |
-$10,000 |
-$10,000 |
| Hurricane Charley Fund |
-$25,000 |
-$15,000 |
| Finance amount |
$99,825 |
$109,835 |
|
|
|
| Monthly costs |
|
|
| Mortgage |
$589 |
$678 |
| Association fees (maintenance, insurance) |
$150 |
$150 |
| Taxes |
$125 |
$125 |
| Total |
$864 |
$953 |
*1% down payment |
|
|
Why Buy?
The Better question is, "Why Rent?"
Your rent check is money down the drain, while owning a home is one of the most significant investments you will ever make. Here’s why:
- Freedom to customize and improve the interior of your home.
- Pride of ownership
- Equity accumulation
- Real estate appreciation
- No risk of increased rent payment
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How Long Will It Take?
We are here to make buying a home
at The Avenues as simple as possible,
and we will coordinate the entire
process for you:
- Make your reservation with a $200
refundable deposit to be applied to
your down payment.
- We will gather all the appropriate
information from you and prequalify
you for down payment
assistance and financing.
- The next step is signing a contract
with the remaining amount of the
1% down payment.
- Construction of The Avenues
is expected to begin in late
September 2007.
- Your new home should be ready in
late May 2008!
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