Pre-Completion Special

For the first 20 buyers Onan Place Condos will discount the purchase price of a unit by $5000.00! This will reduce your mortgage payments even further. Act quickly, as only the first 20 buyers will be able to grab this reduced price. The already low purchase price becomes significantly lower and your monthly payments are reduced.

Lets look at some examples!
Lets say you purchase a unit for $89,990.00 and you put a $9,000.00^** down payment on a 20 year fixed rate mortgage at an 8%^* interest rate.

Purchase Price	Discount	Interest Rate	Down Payment	Years of Mortgage	Monthly Payment
$89,990.00	$0.00	8%^*	$9,000.00^**	20	$677.43^***
$89,990.00	$5,000.00	8%^*	$9,000.00^**	20	$635.61^***

In the first example above, by being one of the first 20 people to purchase now, before construction is completed, you save $41.82 per month and your monthly mortgage payment is only $635.61. Even after you add your escrow (insurance and taxes) this payment should be significantly lower than your monthly rent payment...and you are building equity in your home!

We can change the length of your loan from 20 years to 30 years and reduce the monthly payments even further! Lets take a look at the same example but instead of a 20 year mortgage, lets use a 30 year fixed rate mortgage.

Purchase Price	Discount	Interest Rate	Down Payment	Years of Mortgage	Monthly Payment
$89,990.00	$0.00	8%^*	$9,000.00^**	30	$594.28^***
$89,990.00	$5,000.00	8%^*	$9,000.00^**	30	$557.59^***

These are just some basic examples of financing a mortgage. There are hundreds of different combinations, but we just wanted to show you that even with the most basic of mortgage calculation methods, your own home should not be out of your reach and in all likelihood, if you rent now, your mortgage payment is significantly less than your monthly rent payment! Onan says YES, you can own your own home.

*	Interest rate shown here is an example only. Rates fluctuate often and your actual interest rate will be determined by your mortgage company at the time of your closing. As of the writing of this web page, Onan's current interest rate is as low as 4.99%.
**	This is an example only, your actual down payment may be higher or lower. The example does not include any closing costs. Depending on the type of mortgage you get and your financial situation, you may have no points, no closing costs and no down payment options available. Onan may also be able to help you get assistance such as a first time buyer grant of $5,000.00. Add such assitance to the $5,000.00 discount and get even lower monthly payments.
*******	Does not include Escrow payments. Home owners insurance and property taxes for the year will be added on to your monthly payment and held in escrow by your mortgage company. Additionally, you will have monthly utility (electric) and a low monthly condo assessment fee of about $60.00.