THE COTTAGES ON CHINA LAKE

For information call Ken or Austin at 207.968.2581

Stop by for a visit any time!

1270 Lakeview Drive  |  China, Maine 04358

FINANCING YOUR COTTAGE


Many local banks are interested in helping finance your cottage. One is offering a 30-year, fixed rate of 4.75% with 20% down. Calculate your payments by clicking here or see samples below, calculated with 4.75% interest.


The monthly mortgage payments listed below are examples of what your monthly payments might be, as the actual numbers are affected by your credit rating, down payment amount, and the bank you choose.


If you are interested in renting out your cottage during the weeks you aren’t here, you can find qualified renters through AirBnB.com and VRBO.com. The rate you charge will vary depending on the season, the size of your cottage, and your furnishings and extras, such as kayaks and fishing poles. We have provided information below, as a reference for owners interested in this option.




SAMPLE LOAN PAYMENTS

FOR YOUR COTTAGE



STUDIO COTTAGE

$59,900

Own Your Own Lakeside

Studio Cottage for $250/mo

    $59,900 price - $11,980 (20% down)  =

    $250/mo mortgage

TOTAL $250/mo


Rental Options Can Reduce Monthly Payments:

For example, rent out your cottage for 6 weeks @ $500/wk

and completely cover your monthly mortgage costs.


You can spend the other 23 weeks or weekends

in your cottage for free while building equity.







1-BEDROOM COTTAGE

WITH SCREENED PORCH

$116,900

Own Your Own Lakeside

One-Bedroom Cottage for $470/mo

    $116,900 price - $22,580 (20% down) =

    $470/mo mortgage

TOTAL $470/mo


Rental Options Can Reduce Monthly Payments:

For example, rent out your cottage for 9 weeks @ $650/wk

and completely cover your monthly mortgage costs.


You can spend the other 20 weeks or weekends

in your cottage for free while building equity.







2-BEDROOM COTTAGE

WITH SCREENED PORCH

$146,900

Own Your Own Lakeside

Two-Bedroom Cottage for $615/mo

    $146,900 price - $29,380 (20% down) =

    $615/mo mortgage and PMI

TOTAL $615/mo


Rental Options Can Reduce Monthly Payments:

For example, rent out your cottage for 10 weeks @ $750/wk and completely cover your monthly mortgage costs.


You can spend the other 19 weeks or weekends

in your cottage for free while building equity.





FINANCING YOUR COTTAGE

Studio, 1-bedroom & 2-bedroom cottage condominiums starting at $59,900

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Contact us now to find out more about the newly-renovated Cottages on China Lake.