Millwood New Construction Built By Lennar | Interest Rates Under 5%!

Discover the Alluring Millwood Community in Ocala, Florida – Touring the Elan Model Home

Are you on the hunt for a new construction home with an appealing interest rate under 5%? You’re in for a treat! Today, we’ll take a tour of the Millwood community in Ocala, Florida, showcasing the Elan model by Lennar Homes.

Hello, I’m Zach Day, your trusted Ocala real estate professional. I’m here to bring you the latest property insights and real estate opportunities in the beautiful city of Ocala. My mission is to guide you toward achieving your homeownership dreams. If you’re eager to explore exclusive off-market new construction properties, just check out the link in the description below for a free consultation with me.

But before we dive into the details, let’s explore the fantastic location of this property.

A Prime Central Florida Location

For those unfamiliar with Ocala, it’s nestled in the heart of Central Florida, offering excellent proximity to major cities. To the southwest, you have Orlando, about an hour and a half away. Orlando is a hub of amusement parks like Universal Studios and Disney, making it perfect for family outings. Moreover, it’s brimming with malls, restaurants, and shopping opportunities.

Tampa, to the west, is another major city, also about an hour and a half away. Here, you can catch games at Raymond James Stadium or explore Busch Gardens. Tampa is a thriving city with abundant dining and shopping options, not to mention the beautiful Clearwater Beach just two hours from this location.

Heading 45 minutes north, you’ll find Gainesville, home to the University of Florida (UF). Gainesville offers a rich cultural experience with impressive museums, excellent shopping, and a beautiful downtown area. And if you’re in the mood for a beach day, the Gulf Coast isn’t too far away.

Locally, you’ll find everything you need with a Publix within walking distance. The Silver Springs area of Ocala boasts numerous restaurants, shops, and recreational activities. You’re truly in the heart of Ocala, so you’re far from isolated.

Downtown Ocala is just 15-20 minutes away from this property, and it’s evolving rapidly. This charming downtown area is getting a fresh look, with plenty of new developments. From restaurants to boutiques, it’s shaping up to be a wonderful destination.

Now, let’s take a closer look at the specs of the house.

Introducing the Elan Model

The Elan model home in Millwood offers three bedrooms and two bathrooms. With 1,544 square feet of living space and a two-car garage, it’s a comfortable, contemporary dwelling. Lennar Homes provides an attractive incentive, offering to reduce your interest rate by up to 5%.

Financing Options

When it comes to financing, you have three primary loan options: FHA, VA, and conventional. Each has its own unique features and requirements.

• FHA Loan: This is your low-money-down loan, requiring only a 3.5% down payment. It offers attractive interest rates and is ideal for those with a minimum credit score of 620.

• Conventional Loan: With a minimum credit score of 620, this is a versatile choice. One key benefit is that once you reach 20% equity in your home, you can eliminate private mortgage insurance (PMI). This is a substantial monthly cost that FHA borrowers still have to pay, even after reaching 20% equity.

• VA Loan: A fantastic option for veterans, this loan requires no down payment, and if you use the approved lender for this home, you may not have to pay any closing costs either. This means you can potentially acquire this house without any money down.

Down Payment and Closing Costs

If you’re considering FHA, you’ll be looking at a down payment of approximately $11,000. For conventional financing at 5%, you’d be investing about $15,250. But if you qualify for a VA loan, your down payment can be as low as $0, thanks to their no-money-down benefit.

Regarding closing costs, they’re typically estimated at around 3% of the purchase price. For this property, that’s approximately $10,000.

Property Taxes, HOA, and Monthly Payments

Property taxes for this home are estimated at around $3,000 annually, which equates to roughly $250 per month. The HOA fee is delightfully low at $350 per month, providing access to the Millwood community’s wonderful amenities.

As for monthly payments, they’ll depend on your chosen financing, your down payment, and other factors. With an interest rate bought down to 5%, you can expect monthly payments ranging from $1,900 to $2,100.

These numbers are estimates, so for precise figures tailored to your situation, be sure to reach out to a lender. Feel free to use the approved lender information provided in the description.

Conclusion

That wraps up our property tour and financial overview of this fantastic Elan model home in the Millwood community. If you liked what you saw, please don’t hesitate to contact me. If you have any specific requests for property tours or want to explore other listings, feel free to get in touch.

And remember, you can gain access to exclusive off-market new construction properties by contacting me. It’s a no-obligation, free opportunity to explore homes not yet listed elsewhere.

Thank you for joining me in this journey to discover prime real estate opportunities in Ocala. If you enjoyed this tour, please like, subscribe, and comment. Your feedback is invaluable.

My name is Zach Day, and I look forward to assisting you on your path to homeownership. See you in the next video!