Financing/Property Tax
There are two important considerations for financing this property:
1) Because of its purchase price it qualifies for traditional Fannie Mae conforming loans. This loan is readily available in the marketplace
2) Even better it qualifies for the City of Oakland's First Time Homebuyer program. This program may provide up $75,000 in funds at a low interest rate. Click below to learn more:
City of Oakland First Time Homebuyer
Due to this building's historical significance, this property has been approved for the Mills Act Property Tax Reduction. Property Taxes have been lowered by approximately 40%. The savings will be used by the HOA to continue the work as established in the Mills Act Workplan. These improvements will enhance the community and ensure the upkeep of the property for years to come.
Obviously this is a major incentive to live in (and maintain) this historical building.
1) Because of its purchase price it qualifies for traditional Fannie Mae conforming loans. This loan is readily available in the marketplace
2) Even better it qualifies for the City of Oakland's First Time Homebuyer program. This program may provide up $75,000 in funds at a low interest rate. Click below to learn more:
City of Oakland First Time Homebuyer
Due to this building's historical significance, this property has been approved for the Mills Act Property Tax Reduction. Property Taxes have been lowered by approximately 40%. The savings will be used by the HOA to continue the work as established in the Mills Act Workplan. These improvements will enhance the community and ensure the upkeep of the property for years to come.
Obviously this is a major incentive to live in (and maintain) this historical building.
