{"id":1880,"date":"2013-05-16T11:09:06","date_gmt":"2013-05-16T19:09:06","guid":{"rendered":"http:\/\/www.fairbanksyouthadvocates.org\/board\/?p=1880"},"modified":"2013-05-16T11:09:06","modified_gmt":"2013-05-16T19:09:06","slug":"urgent-house-loan-option","status":"publish","type":"post","link":"https:\/\/fairbanksyouthadvocates.org\/board\/2013\/05\/16\/urgent-house-loan-option\/","title":{"rendered":"URGENT: House loan option"},"content":{"rendered":"<p>We have heard back from Northrim bank and they have offered 3 payment options noted below for the purchase of the house adjacent to the shelter on 10th ave.<\/p>\n<p>I suggest that we accept option #2 which gives us a more conservative time frame to pay off the loan, but we proceed with advanced payments more in accord with option #3 (there is no penalty to do this). In an ideal situation, would could have the loan paid off in approximately 5-6 years, with less paid on overall interest. We would like to proceed with this option on Friday, May 17, \u00a0unless there is opposition from any of the board members prior to the close of the day on 5\/16.<\/p>\n<ul>\n<li>1. 5 year note with 15 year amortization. \u00a0Upside is low monthly payment (under $700.00) \u00a0downside is that in 5 years we have to re-fi or pay balance off. \u00a0not sure the exact interest here but most of the payment would be interest.<\/li>\n<li>2. 10 year straight, payment would be under $1,000.00 and would be done in 120 months. \u00a0approximately 21k in interest at 5%<\/li>\n<li>3. 5 year note, all paid in 60 months, monthly payment would be under $1,600.00. \u00a0approximately 11k interest at 5%<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>We have heard back from Northrim bank and they have offered 3 payment options noted below for the purchase of the house adjacent to the shelter on 10th ave. I suggest that we accept option #2 which gives us a more conservative time frame to pay off the loan, but we proceed with advanced payments&hellip;<\/p>\n","protected":false},"author":16,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[],"class_list":["post-1880","post","type-post","status-publish","format-standard","hentry","category-miscellaneous","category-34","description-off"],"_links":{"self":[{"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/posts\/1880","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/comments?post=1880"}],"version-history":[{"count":2,"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/posts\/1880\/revisions"}],"predecessor-version":[{"id":1882,"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/posts\/1880\/revisions\/1882"}],"wp:attachment":[{"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/media?parent=1880"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/categories?post=1880"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fairbanksyouthadvocates.org\/board\/wp-json\/wp\/v2\/tags?post=1880"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}