Open House for 7821 Hermitage Avenue, Newark, CA 94560 – this coming August 3, Saturday, and August 4, Sunday, 1:30p to 4:00p

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Don’t miss the chance to own and call this your future dream house. Stunning rarely found 5 bedrooms single house in a convenient location of Newark. 5 bedrooms 3.5 bathrooms 2953 sq ft / lot 11256 sq ft. Nicely recent remodeled. All dual-paned windows and recessed lighting thru-out. Newly HVAC, Water heater, and Gas cook range. Gourmet kitchen with granite countertops and upscale stainless steel appliances. Newly remodeled upstairs master bathroom and hallway bathroom. Brand new built balcony deck overview neighborhood. Updated beautifully tile flooring ground level living area. Harmonized & elegant artistic interior paint thru-out. Tranquil & mature landscape, fruit trees of fig, apple, pear, nectarine, plum, peach, lemon. Closed to the commuter location of Apple, Google, Facebook, Oracle & Tesla. 5 minutes/3 miles away from 2 Facebook offices located in Fremont. Why wait, Fed just reduced interest rate, it’s time to be a homeowner.

Offered at $1,499,950

Visit www.7821hermitage.com for virtual tour and pano photos

 

 

Visit www.7821hermitage.com for virtual tour and pano photos

Offered at $1,499,950

Understand how your ARM adjusts before taking out an adjustable rate mortgage

  • How soon your payment could go up – e.g. 7 year ARM, your initial rate will stay the same for 7 years before it changes
  • How often your interest rate will adjust – some could adjust monthly or every 6 months or different term according to your loan contract
  • How high the interest rate could adjust each time when it happens and how much is the impact on your mortgage payment
  • If there is a cap on how high your interest rate could go
  • If there is a limit on how low your interest rate could go
  • Don’t assume you will be able to sell your home or refinance your mortgage before the rate changes because value of your property could decline, your financial condition could change, therefore, you need to consider if you will still be able to afford the loan if the rate and payment go up to the maximums allowed under the loan contract

* Message from your Real Estate and Mortgage Broker, Andy Lamandyjustsold@gmail.com, 408-218-2513

What is the difference between a fixed-rate and adjustable-rate mortgage (ARM) loan?

With a fixed rate mortgage, the interest rate is set and fixed when you take out the loan and will not change.   Most common programs are 15 year-fixed loan and 30 year-fixed loan.

With an adjustable rate mortgage (ARM), the interest rate may go up or down. Usually ARMs will start at a lower interest rate than fixed rate mortgages. This initial rate may stay the same for months or years, depends on the program that you choose. When this introductory period is over, your interest rate will change according to the index that it ties with and the amount of your payment will likely go up.   Many ARMs will limit the amount of each adjustment by the index, and set a “cap” on how high your interest rate can go over the life of the loan and/or set a “floor” also limit how low your interest rate can go.

* Message from your Real Estate and Mortgage Broker, Andy Lamandyjustsold@gmail.com, 408-218-2513