Financial
Information
Laguna
Woods Village, Laguna Woods, CA
Ownership
Requirements
Age:
One
resident must be 55 years of age or older. The spouse
may be 45.
Annual
income of at least: Cooperatives Condominiums
Per Household: $36,000 $42,000
Asset Requirement*: Cooperatives:
Assets equal to the total purchase price of the manor
plus $100,000 in liquid, marketable or income producing
assets. The Mutual waives financial requirements if
more that 50% of the cost is financed through a third
party bank.
Condominiums: Assets equal to the total
purchase price of the manor plus $125,000 in liquid,
marketable or income producing assets.
* Asset requirement variations should be discussed with
agent
Monthly Fees:
Cooperative - Approximately $548.00
is the basic monthly Homeowner Association fee.
Principal
and interest on any remaining underlying FHA loan,
plus property taxes are added to the monthly Association
fee. Each manor must be individually computed for
the total monthly association fee.
The basic fee includes:
1.
Principle and interest on FHA loan, if any remaining
2.
Property taxes
3. Building insurance (fire and damage)
4.
Cable television
5.
Water
6. Trash pickup
7.
Exterior building maintenance (ie.painting and roof
care)
8. Grounds maintenance
9.
Appliance repair and replacement
Resident pays electricity and phone.
Condominium
- $538 per month, includes
1.
Building insurance (fire and damage)
2.
Cable television
3. Water
4. Trash pickup
5.
Exterior building maintenance (ie. painting and roof
care)
6.
Grounds maintenance
Resident pays electricity, phone and property
taxes.
Laguna
Woods' monthly fees give you access to $25,000,000 worth
of amenities, including 24-hour security and patrol,
bus service throughout the community and to nearby commercial
services such as markets, restaurants, Saddleback Medical
Complex, the Laguna Hills Mall, as well as churches
of every denomination.
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