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FL Homes Classified • (315) 282-2288 • Sunday, March 17, 2019 | email@example.com auburnpub.com | Section d InsIde: Automotive Classified employment Legals Want to buy a home? Do the math. (BPT) - It is a common misconception that a 20 percent down payment is required to buy a home. Advice to wait and save a large down payment is often based on the theory that the cost of mortgage insurance (MI), which is required when you buy with a smaller down pay- ment, should be avoided. This may not be the best advice and is, in fact, not in line with market trends, considering the median down payment for firsttime homebuyers is 7 percent, according to the National Association of Realtors. Yes, you can qualify for a conventional mortgage with a down payment as small as 3 percent of the purchase price. It is also true that you can reduce your monthly mortgage payment by paying for discount points at closing, but that can be 5 or 10 percent of the purchase price - not 20. And because every buyer’s situation is unique, it’s important to do the math. In today’s market, it could take a family earning the national median income up to 20 years to save 20 percent, according to calculations by U.S. Mortgage Insurers using a methodology developed by the Center for Responsible Lending; a lot can change during that time, in the family’s personal finances and in overall mortgage market trends. How can buying now save you money later? Consider you want to purchase a $255,000 home. A 5 percent down payment is $12,750 versus $51,000 in cash for 20 percent down. With a 740 credit score at today’s MI rates, your monthly MI payment would be about $110, which is added to your monthly mortgage payment until MI cancels. MI typically cancels after five years; therefore, you will only have this added cost for a short period of time versus waiting an average of 20 years to save for 20 percent. With home price appreciation, today’s $255,000 home will likely cost more in the years ahead and this will also have an impact on the necessary down payment and length of time required to save for it. There are other variables in the equation too, such as interest rates. As federal rates rise from their historic lows, so too will the costs associated with financing a mortgage. The savings a borrower might calculate today could be altogether negated by waiting even a few more years. Another factor is that rents are on the rise across the nation, leading to a reduced capacity for many would-be homebuyers to save for larger down payments. If you decide to buy today with a low down payment mortgage that has private MI, keep in mind that the monthly MI payments are temporary and go away, lowering the monthly payment over time. Again, private MI typically lasts about five years as it can be cancelled once a homeowner builds approximately 20 percent equity in the home through payments or appreciation and automatically terminates for most borrowers once he or she reaches 22 percent equity. Importantly, the insurance premiums on an FHA mortgage - a 100 percent taxpayer-backed government version of mortgage insurance - cannot be cancelled for the vast majority of borrowers. So, do the math and let the numbers guide you. There are many online mortgage calculators that can help. Check out lowdownpaymentfacts.org to learn more. Property Transfers City of Auburn Equalization rate 100 • Robert Wilson, 58 Case Ave., Auburn, to Mark A. Hand, 48 Case Ave., property at 60 Case Ave., Auburn, $32,000. Assessment $43,000. • The Secretary of Housing and Urban Development, Washington D.C., to Thomas J. Alexander, 1 Brae Ridge Road, Auburn, and Theodore H. Leader, 13 Bristol Ave., Auburn, property at 65 Fleming St., Auburn, $72,444. Assessment $131,000. • Clarence R. VanOstrand Jr. and Virgina S. VanOstrand, 203 S. Seward Ave., Auburn, to Karen Lynne Dec, 190 Lake Ave., Auburn, and Kim Marie Bertonica, 8 Anderson Circle, Auburn, as Co-Trustees under the VanOstrand Family Irrevocable Trust, property at 86 Walnut St., Auburn, $0. Assessment $93,300. • Clarence R. VanOstrand Jr. and Virgina S. VanOstrand, 203 S. Seward Ave., Auburn, to Karen Lynne Dec, 190 Lake Ave., Auburn, and Kim Marie Bertonica, 8 Anderson Circle, Auburn, as Co-Trustees under the VanOstrand Family Irrevocable Trust, property at 203 S. Seward Ave., Auburn, $0. Assessment $87,500. • Jeffrey A. Dennis, 7 Jefferson Ave., Auburn, to Brandon Cook, 34 Fourth Ave., Auburn, property at 7 Jefferson Ave., $132,500. Assessment $123,000. • Jay A. Carbonaro, individually and as Executor of the Estate of Judy M. Carbonaro, 69 Throop Ave., Auburn, to Wayne Finch and Mary Jeanne Finch, 33 Delevan St., Auburn, property at 49 Belmont Ave., Auburn, $13,000. Assessment $21,400. • Nationstar Mortgage LLC, dba Mr. Cooper, Coppell, TX, to Secretary of Housingand Urban Development, Oklahoma City, OK, property at 185 North St., Auburn, $10. Assessment $115,000. • Mark Shayne Smith, 3646 state Route 38, Moravia, and Floyd Charles Smith, 20 Britsol Ave., Auburn, to Chelsey R. Bozeat and Michael J. Wavercak, 5 First Ave., Auburn, property at 61 Arlington Ave., Auburn, $69,000. Assessment $73,800. • Steven P. Webster, 33 Chedell Place, Auburn, to Terssa Klink, 61 Chedell Place, Auburn, as Trustee of The Steven P. Webster Irrevocable Trust, property at 33 Chedell Place, Auburn, $0. Assessment $119,900. • Jonathan A. Cramer, aka Jonathan Cramer, 126 Osborne St., Auburn, to Jerry L. Sylvester, 22 N. Hunter Ave., Auburn, properties at 7 Franklin St., 1 Near Place, 300 Seymour St., and 41 Morris St., Auburn, $200,000. Assessmentes $88,300, $39,900, $37,000, $60,300. • Jazzmyng M. Dones, 61 West St., Auburn, to Vincent Dones, 49 Barber St., Auburn, properties at 4 Sheldon Ave., Auburn and 31 N. Division St., Auburn, $0. Assessments $65,000, $3,900. • Jazzmyng M. Dones, 61 West St., Auburn, to Vincent Dones, 49 Barber St., Auburn, property at 29 N. Division St., Auburn, $0. Assessment $52,000. • Stephanie Hutchinson, 28 Grover St., Auburn, and Christopher Hutchinson, 114 South St., Auburn, as Trustees of the James E. and Janie N. Hutchinson Irrevocable Trust, to Hutchco Development, Inc., 2 Elizabeth St., Auburn, property at 41 Arterial West, Auburn, $0. Assessment $645,000. • Robert J. LaLonde, Jr.,23 Frances St., Auburn, and Susan LaLonde, 109 N. Hoopes Ave., Auburn, to Barry Leader, 19 Hurd Circle, Auburn, property at 38 S. Lewis St., Auburn, $45,000. Assessment $84,800. Town of Fleming Equalization rate 35 • Thomas J. Wahlers, 5615 W. Lake Road, Auburn, to Ryan F. Flaherty, 6140 Oakridge Road, Auburn, property at 5615 W. Lake Road, Auburn, $400,000. Assessment $81,300. • Rita A. Lewis 2808 Forest Hill Drive, Auburn, to Nancie J. Reese, 417 Wasters Edge, Auburn, and David C. Lewis, 1 Black Forest Drive, Webster, as Co-Trustees of The Rita A. Lewis Irrevocable Trust, property at2808 Forest Hill Drive, Fleming, $0. Assessment $130,300. • Charles N. Donato and Dorothy J. Donato, 2650 Quick Silver Drive, Auburn, to Charles N. Donato and Dorothy J. Donato as Trustees of The Charles N. Donato and Dorothy J. Donato Irrevocable Trust, property at 2650 Quick Silver Drive, Auburn, $1. Assessment $186,014. Town of Genoa Equalization rate 96 • Resa Reynolds, fka Resa Alvord, 208 Groton Road, Freeville, and Estella W. Alvord, 24 Aurora St., Town of Brutus Apt. A-5, Moravia, to Resa Equalization rate 100 Reynolds and Michelle • Gary R. Hurd, 8233 Reynolds, 208 Groton Shepherd Road, Weedsport, Road, property at 1156 to Keith A. Lum, 8435 Clearview Road, Genoa, $0. Shepherd Road, Weedsport, Assessment $62,800. property at 8435 Shepherd Road, $69,900. Assessment Town of Ira $82,300. Equalization rate 100 Improved prIce! 1 Lawton Ave., Auburn $64,900 Spacious, Updated Colonial Includes 1st FL Remodel, 4BR’s, New Windows, Furnace & Hot Water Heater. Marian Anderson, 315-730-6159 (C) 751 Spring Lake Rd., Conquest $172,000 Beautiful Colonial on 6 Acres. Completely Remodeled. 4BR, 2BA, Large Kitchen w/ Dining Area, Deck, Barn & More. Marian Anderson, 315-730-6159 (C) 6450 Wembridge Dr., Dewitt $109,900 Ranch w/ Open FL Plan in Frankiln Park. Lots of Updates. Needs Finishing Touches in Basement, Large Level Backyard. Elizabeth A. Foster, 315-415-6551 (C) 5 Cottrell St., Auburn $118,000 Beautiful Cozy Home Offers 3BR, 1BA, All Appliances, Fenced In Backyard, Big Deck, Great Neighborhood. Sabrina J. Falcone, 315-289-2238(C) 4903 Rockefeller Rd., Owasco $339,000 2800 Sq. Ft. Split Level w/ 30’ Deeded Lake Access. 4BR, 2BA, Living Room, Dining Room, Family Room w/ Views. Lee G. Holmes, 315-729-7713(C) 3818 E. Genesee Street Rd., Sennett $216,900 Skaneateles Schools. Cayuga Taxes. 4BR, 2.5BA, Double Living Room, Formal Dining Room. New Furnace, Electrical, on 1.7 Acres. Lee G. Holmes, 315-729-7713 (C) 32 Grove St., Moravia $145,900 Spacious Home! Beautiful Large Yard. 2-Story Barn w/ Workshop Kitchen. New Roof, Electric. Many Improvements! Marian Anderson, 315-730-6159 (C) 2652 Sand Beach Rd., Fleming $169,900 Just Outside City. Features Open Floor Plan, 3BR, 2.5BA, New Kitchen, Finished Basement, Private Yard. In Desirable Neighborhood. Greg Mott, 315-730-4044 (C) 70 Steel St., Auburn $98,900 Beautiful Colonial - 3BR, 1BA, Many Updates - New Kitchen, Bath, Electrical, Plumbing, Sheet Rock, Hardwoods. Must See! Lee G. Holmes, 315-729-7713 (C) 142 Dunning Ave., Auburn $279,000 Long Standing Business sits on 3+ Acres. Great Opportunity! Includes Retail Shop, Greenhouse, Garage, Storage & Outbuildings. Stephen C. Ansteth, 315-730-3880 (C) • Eric L. Keysor, 13113 White Cemetery Road, Hannibal, to Dylan C. Teska, 3447 Lysander Road, Cato, property at 13152 Arnold Road, Ira, $0. Assessment $154,700. Town of Mentz Equalization rate 100 • David Duxm 395 Chatfield Road, Elbridge, to Glenn Baliva and Crista Baliva, P.O. Box 369, property at 557 Traver Lane, Montezuma, $10,000. Assessment $17,000. • Randal Cheney, 8201 state Route 34, Weedsport, as Executor of the Estate of Ruth W. Cheney, to Christopher Nagell, 8374 Baptist Hill Road, Port Byron, property at 33 Utica St., Mentz, $57,068. Assessment $59,000. Town of Sennett Equalization rate 92 • Peter Kofi Amankwaah, 630 Barnes Ave., Syracuse, to James D. Iwanicki, 7081 Owasco Road, Auburn, property at 426 Grant Ave. Road, Sennett, $20,000. Assessment $79,700. Town of Springport Equalization rate 81 • Donna Moll, Durham, CT; Marie Moll, Mt. Rainer, MD; and Leann M. Ceresoli, 107 Horizon Drive, Chittenango, to Michael D. Squires, 15 Wallace Ave., Auburn, property at 9 Hillview Drive, Springport, $). Assessment $109,900. Town of Sterling Equalization rate 100 • David M. Sampson, Town of Niles 13960 Martville Road, Equalization rate 95 Martville, to William • Mildred Tracy, Showers, 1316 Howland 1939 Coon Hill Road, Island Road, Port Byron, Skaneateles, to Albert property at 13960 Martville G. Joerger, Sarasota, FL, Road, $95,000. Assessment property at 4500 state Route $78,600. 41A, Niles, $0. Assessment • Robert J. Halstead, $475,000. 13364 McGibben Road, • WKK, Inc., 1773 Martville, as Administrator Tamarack Trail, of the Estate of Robert Skaneateles, to Albert R. Halstead, to Robert J. G. Joerger, Sarasota, FL, Halstead, property at 13364 property at 4500 state McGibben Road, Sterling, Route 41A, Niles, $540,000. $0. Assessment $43,300. Assessment $531,500. Town of Throop Town of Owasco Equalization rate 100 Equalization rate 79 • Louis J. Vasile, W. • Christopher S. Lake Road, Auburn, to Prentice, Lutz, FL, to Eric Austin and Heather Christopher Scott Prentice, Austin, 280 Seymour St., Lutz, FL, as Trustee Auburn, property at Peach for the Christopher Tree Road, Throop, $5,000. S. Prentice Revocable Assessment $21,900. Living Trust, property at 333 Cottonwood Lane, Town of Victory Owasco, $0. Assessment Equalization rate 87 $310,000. • Mary Helen Hughson, • A. Marie Bundy, P.O. 459 Shorewood Trail, Box 283, Skaneateles, and Ontario, as Executor of the James S. Bundy, 6181 Last Will and Testament Broadway Road, Auburn, of Floyd Donald Neal; to Christopher W. Yengo, and Nathali Neal, 12966 P.O. Box 343, Skaneateles, Coolican Road, Red property at 6181 Broadway Creek, to Nathali Neal, Road, Owasco, $125,000. 12966 Coolican Road, Assessment $112,600. property at 12966 Coolican Road, Victory, $118,000. Town of Sempronius Assessment $125,800. Equalization rate 100 • Lawrence E. Kolb, 5859 • Dale L. Kehoe, 2841 Westbury Road, Red Creek, state Route 41A, Moravia, to Stephen Aucter, P.O. to Adam R. Kehoe and Box 35, 12642 Upton Road, Mary Katherine Kehoe, Red Creek, property at 2470 Curtain Road, 12642 Upton Road, Victory, Moravia, property $25,000. Assessment at 2841 state Route $30,800. 41A, Sempronius, $0. Assessment $146,000.