The mortgage is approved! The Alliance Development Fund (ADF) - TopicsExpress

The mortgage is approved! The Alliance Development Fund (ADF) approved our application for a $142,000 mortgage which includes: • A five-year balloon-payment loan with an adjustable interest rate beginning at 6.25%. • A down payment of $35,500. • An initial monthly payment of $1,037.92 (which compares favorably to our current rent payment of $1,000). • The option to prepay on all or a portion of the outstanding principal balance without penalty. • Closing to be no later than January 1, 2014.

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