PRC Homes' Popular New Condo Community, Priced from the $180's, Ahead of Schedule as FHA Financing Opens Doors for More Homebuyers
SOUTH BOUND BROOK, N.J., June 28, 2012 /PRNewswire-USNewswire/ -- Beverage freedom awaits in New Jersey. Riverbrook Walk, a condominium community in South Bound Brook from PRC Homes, is reminding prospective homebuyers that they can have their soda and drink it too by living outside the carbonated confines of New York City. Homebuyers interested in touring the community can stop in now and view all that these homes have to offer, including the large refrigerators, perfect for any size of soft drink.
Riverbrook Walk is in its next phase of sales, ahead of the developer's projected timeline. The popularity of the community's Federal Housing Authority (FHA) financing makes it even more appealing to its key buyer profiles: first-time homebuyers who could be paying as much or more in rent, and cost-conscious empty-nesters downsizing from an older single-family home. The new building at Riverbrook Walk will offer several new floorplans and feature two professionally decorated model homes.
Under the provisions of the FHA-backed financing program at Riverbrook Walk, qualified homebuyers can purchase with a down payment as low as 3.5% of the purchase price at interest rates that are typically 1/8th to 1/4th a percentage point lower than most market rates. FHA financing also has more relaxed credit requirements and qualification criteria than standard financing; buyers with credit scores as low as 500 may still qualify. FHA-backed financing at Riverbrook Walk is available for both fixed-rate financing and adjustable rate mortgages (ARMs). FHA-backed financing is handled through a designated, market-rate mortgage company, at Riverbrook Walk. That lender is Wells Fargo Home Mortgage, one of the oldest and most stable mortgage companies in America.
Riverbrook Walk buyers also enjoy a PILOT Tax Abatement Program by the State of New Jersey. Riverbrook Walk residents will enjoy an almost 50% discount on their property taxes over the next 10 years. Between the FHA financing and the tax abatement program, potential buyers may find that they can own a new Riverbrook Walk condo for less than their current monthly rent.
Riverbrook Walk's key selling features are its low maintenance, comfort and convenience. The result is a community of 1- and 2-bedroom condos in elevator buildings set on lushly landscaped grounds. The community will include 90 condominium homes in 5 traditionally designed buildings with modern innovations. All will include open, spacious floorplans, contemporary finishes and private balconies. Riverbrook Walk also has its own 24-hour-a-day clubhouse with a private fitness center, state-of-the-art equipment and community gathering rooms.
To learn more about PRC Homes' new condos at Riverbrook Walk in South Bound Brook, and its multiple savings programs, call 732-560-9800, or visit online at RiverbrookWalk.com.
SOURCE PRC Homes