Luxury Within Reach: Toll Brothers' 700 Grove Now Offering Homeowner Loans With Just 3.5% Down
Toll Brothers City Living today announced that buyers can purchase homes at 700 Grove, its 12-story luxury condominium community in Jersey City, with as little as 3.5 percent down through new Federal Housing Administration (FHA) qualified loans.
Jersey City, NJ (Vocus/PRWEB ) June 13, 2009 -- Toll Brothers City Living today announced that buyers can purchase homes at 700 Grove, its 12-story luxury condominium community in Jersey City, with as little as 3.5 percent down through new Federal Housing Administration (FHA) qualified loans.
 Located on the border of Hoboken, 700 Grove is over 85% sold and is available for immediate occupancy.
With the FHA approval, people can buy a residence at 700 Grove for as little as $17,500 down, with a loan limit up to $729,750 at a time of historically low interest rates. The minimum credit score needed to qualify for the loan is 620. Plus, due to a recent policy change regarding FHA-insured loans, first-time homebuyers at 700 Grove may be able to immediately apply the federal $8,000 first-time homebuyer tax credit toward the purchase cost. Interested buyers need to act soon as the $8,000 first-time homebuyer tax credit is only available until December 1, 2009.
"This is an unprecedented opportunity for homebuyers, especially first-time buyers," said Ben Jogodnik, senior vice president of Toll Brothers City Living. "The pent-up demand for quality housing is tremendous, and the government's interest in restarting home buying activity has put these luxury-class homes within easy reach."
According to estimates by the National Association of Home Builders, the federal homebuyer tax credit will stimulate 160,000 home sales across the nation - 101,000 of which will be first-time buyers who will receive the credit. Another 59,000 existing homeowners will be able to buy another home because a first-time buyer purchased their home.
Completed in the fall of 2008, 700 Grove comprises 230 units in 12 stories at 700 Grove Street, Jersey City. Homes feature spacious living areas from 700 to over 1,600 sq. ft. with beautiful hardwood flooring, granite countertops, stainless steel GE® appliances, Kohler® fixtures; and in-unit washers and dryers. Many homes offer a terrace or balcony with breathtaking Manhattan views. Amenities include a state-of-the-art fitness center, large private landscaped courtyard, a residents' club, garage parking, and door-to-door shuttle service to the PATH. Pricing is from the upper $400,000s.
700 Grove is one of four new condominium communities by Toll Brothers City Living in Hoboken & Jersey City including: Hudson Tea; Harborside Lofts at Hudson Tea; and Maxwell Place on the Hudson, a joint venture with Pinnacle Downtown.
About Toll Brothers
Toll Brothers City Living is the urban development division of Toll Brothers, Inc. a FORTUNE 1000 Company. Toll Brothers City living is bringing the same quality, value and service familiar to its luxury homebuyers throughout the country, to some of the most dynamic urban markets in the country including Manhattan, Brooklyn and Queens, New York; Hoboken and Jersey City, New Jersey; Scottsdale Arizona; and Philadelphia, Pennsylvania. Toll Brothers City Living communities combine the energy of an urban lifestyle with unparalleled amenities, spectacular architecture, and the expertise of the nation's leading builder of luxury homes. For over 40 years, Toll Brothers has taken pride in the recognition received from its homeowners and peers. The Company is currently building in 21 states and has been honored with the three most coveted awards in the home building industry: America's Best Builder, the National Housing Quality Award, and Builder of the Year. For more information, visit www.tollbrotherscityliving.com
For qualified buyers only. Certain restrictions apply. Programs subject to change/cancellation without notice. Photos are images only and should not be relied upon to confirm applicable features. Prices subject to change without notice. This is not an offering where prohibited by law.
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