As if the 100% 15year tax abatements for many of the new construction condo projects downtown weren’t enough, how about taking 1.5% of the prime interest rate? Sound like a scam? It's not. Through cooperation with the city,
If you are starting to think that your buck may go a bit farther downtown, YOU ARE RIGHT!!!
In a recent comparison that Scott Phillips Jr. of Cleveland City Living did, he shows that, with all else being equal, a person paying $1200 a month in the suburbs could afford a house around $150,000 after taxes. If that same person were to purchase a tax abated condo downtown and also qualified for the NCHAMP mortgage, that same $1200 a month would get her into a condo around $195,000.