HOMEBUYER LOAN RATES

Fixed	3.250%	3.408% APR
FHA Plus	3.500%	3.660% APR

The Crest at Longwood FAQ

	Answer
Are the Sanitary Sewer lines made of cast iron or terra cotta? ‎(1)
	Cast Iron
Are there mowing/snow removal contracts? ‎(1)
	No contract. Expense is listed on the P & L
Are Water and Sewer connected to the City of Salem? ‎(1)
	YES
Did you get a cost to eliminate the pool? Do you know if it can be filled in or would the material have to be completely removed and hauled out? ‎(1)
	We received an estimate and not a formal quote. Indication from estimating contractor is that materials would have to be removed from the site. We received this quote in 2007 when we were doing all the rehab work at the property.
Do you know if there are any other repairs that VHDA would require for this property? ‎(1)
	None other than routine maintenance and as specified in the NOS, the pool must be dealt with if VHDA is to finance the property.
I thought this property was under contract? ‎(1)
	The contract was not ratified. It is being offered for sale at the most recent bid price offered during the last round of bidding.
Is VHDA interested in financing this complex? ‎(1)
	Yes, this was put into the notice of sale. VHDA would be willing to finance this loan for a qualified borrower who was using a VHDA certified management company. Our goal is to sell it for the highest price. Whether we get the financing is secondary.
It appears that when the structures were built that there were no materials installed to tie the walls into the structure of the building. What can you tell me about this? ‎(1)
	To our knowledge, it is stable. If you are the winning bidder, as a contingency of the contract, you can requiire that your engineer or specialist look at this and if you discover, during your due dilligence period a problem, you can walk way but this would only happen if you were the winning bidder and it was discovered during due dilligence period.
May I have copies of the contracts with F & W and a listing of employees & salaries? ‎(1)
	No. We have a Housing Mgmt Contract with F & W. The salaries are on the P & L.
What is the electrical service in the buildings? ‎(1)
	All of the buildings except the 131 building (rebuilt in 2011 due to fire) have 100 amp service. The 131 building was upgraded to 125 amp service.
Will VHDA provide a copy of the insurance declaration pages? ‎(1)
	No. There is not a separate ploicy for this property as it is on our master policy with Middleoak.