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The Tar HeelThursday, July 20, 198933
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7. 5. FINANCING
If high interest rates and a tough resale market care preventing you from purchasing a
condominium, then Grubb Properties has a special opportunity for you. With financing
at 7.5 interest for the first year, 8.5 for the second year, and 9.5 for the third and fourth
years, owning a home has never been more affordable. You only need a 5 down
payment and Grubb Properties will pay all closing costs. Also, you may elect to resell your
condominium back to Grubb Properties for the onginal purchase price during the fifth
year. With the affordable financing opportunity, a buy-back guarantee, and low purchase
prices, owning a condominium has never been easier.
Starting from 65,900
Starting From 29,900
Cash Prices Start from $6o,658
Luxury living adjacent to Chapel Hill Country Club golf
course off Hwy 54. Perfect for UNC professors, or graduate
students. Located 12 mile from UNC Campus. Burning
Tree Drive, Chapel Hill. Mon.-Fri. 967-2230.
7.5 financing applies to 3bd. units only.
Special financing available for two bedroom units.
Affordable value within minutes of UNC campus, just off
Hyw 54 in Carrboro. Perfect for students or investors. Two
and three bedrooms. 501 Jones Ferry Road, Carrboro. Of
fice located at 305 The Oaks. Mon.-Fri. 967-2230
Certain restrictions apply concerning condominiums with the renovation package.
Typical Financing. Down Payment 5 of purchase price. Amortization 30 years. 1st mortgage 80 of purchase price 7.5 interest for the
first year, 8.5 interest for the second year and 9.5 interest for the third and fourth years, interest and payment adjust annually after
fourth year. Max. 14.25. 2nd mortgage 15 of purchase price interest rates identical to first mortgage for first four years, 9.5 for fifth
year. Balloon with refinancing option. Annual percentage rate 9.9