The Islands, Gilbert
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Original purchase price in December 1994
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$ 350,000.00
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Angel buys home for $170,000 and offers it as a leaseback though the housing Angel
program.
Former owner will put $10,000 into a broker trust account with a lease agreement
with option to purchase.
Former owner will pay $1,850 in rent per month. The rent is based on a 10 Cap rate
to invest + $75 program fee.
If the former owner wants to repurchase:
- Year 1 = $204,000 *Based on 20% of original purchase price.
- Year 2 = $204,000 *Based on 20% of original purchase price.
- Year 3 = $224,000 *Based on 10% of original purchase price compounded 10% annually.
If the former owner repurchases property year three at $224,400 and originally owed
$350,000 the saving on the mortgage would be more than $126,000.
Former owner is responsible for all repairs.
The former owner’s payment was almost $3,200 including taxes, HOA, and insurance;
Therefore the savings per month is $1,350. The owner's monthly housing payment saving
will total nearly $47,250. If they bought it back in the 35 month the is a total savings of $225,500.
Homeowner in Northwest Valley Near Trilogy SAVED!
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Home Owner owed
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$357,000
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Home Owner payment
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Almost $3,000 per month
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Investor Purchased home for
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$110,000
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Rents back to Previous Home Owner for
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1.1% for $1210 per month
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Previous Home Owner can by back in 2-3 year for
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$146,410
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Principle Reduction of
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$210,000
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Saving on Payment per month if closed on 35th month
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$63,000
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Total Saving to Previous Home Owner
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$273,000 approximately
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This is real and remembers if it was a 30 year loan.
There were 20 years left and interest rates are close
to the same as they are today the Savings is:
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$200,000 aproximately
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Total Saving on the life of the loan
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$573,000 approximately
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