Mortgages & Financing
Wishing Door Real Estate · Property Mortgages & Financing
Property Mortgages & Financing
The Wishing Door recognizes that not every citizen of Lumeris possesses a dragon's hoard of Gold Lumens. To encourage settlement and responsible property ownership, financing arrangements are available to qualified purchasers.
Mortgage Requirements
- ◆A minimum down payment of 25% of the property's total purchase price is required.
- ◆The remaining 75% may be financed through one of the following arrangements.
- ◆All financing fees are calculated against the remaining balance after the initial down payment has been received.
Six-Month Mortgage
Down Payment
25% of the total property value.
Financed Balance
75% of the purchase price.
Financing Fee
10% of the financed balance.
Repayment Period
Six monthly installments.
Payment Calculation
Installments are calculated in increments of 10 CL, with any necessary adjustment made to the final installment.
Early Repayment Benefits:
- ◆Should the entire mortgage be repaid within three months rather than six, the financing fee shall be reduced from 10% to 5%.
- ◆If the entire mortgage is repaid within 30 days of its creation, the financing fee shall be waived entirely.
Three-Month Mortgage
Down Payment
25% of the total property value.
Financed Balance
75% of the purchase price.
Financing Fee
5% of the financed balance.
Repayment Period
Three monthly installments.
Payment Calculation
Installments are calculated in increments of 10 CL, with the final payment adjusted as necessary.
Early Repayment Benefits:
- ◆Mortgages paid in full within 30 days shall have their financing fees removed.
Late Payments & Default
The Wishing Door expects all borrowers to honor their financial commitments. Failure to meet these obligations may result in additional charges or the forfeiture of property.
Late Payment Fee
50 CL shall be added for each unpaid month.
Three Consecutive Missed Payments
The property shall enter repossession proceedings.
Repossession Holding Period
Repossessed property shall be held for 30 days, allowing the owner an opportunity to settle outstanding obligations.
Property Restoration
All overdue installments and applicable late fees must be paid in full before ownership is restored.
Example of Outstanding Payments
A property owner owes three monthly installments of 60 CL each.
| Description | Amount |
|---|---|
| First unpaid installment | 60 CL |
| Second unpaid installment | 60 CL |
| Third unpaid installment | 60 CL |
| Two assessed late fees | 100 CL |
| Total required for restoration | 280 CL |
This example assumes two late fees have been assessed. Additional applicable charges must be included in the final settlement.
Responsibilities of the Borrower
- ◆The individual whose name appears upon the mortgage agreement is solely responsible for ensuring that payments are made.
- ◆The Wishing Door is under no obligation to remind property owners of approaching deadlines.
- ◆If no payments are received over a six-month period, and no formal notice of absence has been submitted, the brokerage may initiate proceedings to reclaim the property.
- ◆Should the property be reclaimed, the original down payment and any confirmed mortgage payments shall be refunded according to the brokerage's official transaction ledgers and verified treasury records, subject to applicable financial obligations.