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Special Financing : Fixed-Rate Bond Plan Offered for Town Houses

July 14, 1985

A 30-year fixed rate Orange County bond financing program is available at the 136-unit Stanford Court town house development in Anaheim, according to the developers, Century American, Orange.

Half the two- and three-bedroom units, ranging in price from $105,990 to $118,990, have been sold at the Cape Cod-style project on Crescent Avenue, east of Brookhurst Street. An annual percentage rate of 10.2% and low down payments are features of the bond program.

30-year Fixed Program

Wolf Homes is offering 30-year fixed-rate financing, as low as 9 1/2%, at Chateau Heritage, an 83-unit single-family development in Escondido. The two- and three-bedroom houses, ranging from $96,900 to $112,900, are on two artificial lakes. The 9 1/2% rate is for 90% financing; a 9 3/4% rate is for 95% loans.

Graduated Plan Offered

An adjustable-rate financing plan, with reduced interest rates for the first two years, is available at the 72-unit Old Stonegate town house development by Grant Building Co. in Santa Ana. Financing is available at 8.9% the first year, 9.75% the second and 10.625% (10.95% annual rate) the third through 30th years. Prices for the two- and three-bedroom units range from $99,500 to $111,500. The development is on Westminster Avenue near the Euclid Street exit of the Garden Grove (22) Freeway.

Lease-Option Offered

A lease-option plan for one year is available at The Villas at Whispering Palms Country Club by Newport Pacific Inc. in San Diego County's Rancho Santa Fe area. If the buyer exercises the option to buy within a six-month period, the lease payments will be used as a down payment, with the builder financing the rest of the purchase price. The 125 three- and four-bedroom town-house units range in price upward from $231,500. Twenty-five remain to be sold.

Financing Plans Offered

A wide variety of reduced-rate financing plans are offered at Park Wellington, a 163-unit condominium development by Troy Investment Fund at 1131 Alta Loma Road, West Hollywood. The one- and two-bedroom units are priced from $135,000 to $350,000. One mortgage plan requires a 20% down payment with the loan balance amortized over 30 years at 9.9% fixed and 1 1/2 points, to become due in 15 years.

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