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Software plays matchmaker.

A personalized computer program that matches a wide variety of finance options with individual homebuyer needs is spurring sales at Kings Estates, according to the developer of the affordable housing community in the historic Orange County town of Warwick, New York.

The software program clearly illustrates on an easy-to-comprehend, personalized print-out how many of Kings Estates' eight financing plans will fit a buyer's specific budgetary requirements and then, after an option is selected, exactly what that program will cost, reports Ira Weiss, of Kings Estates Development Associates.

The eight plans, all featuring lowdown payments and closing costs, include fixed-rate and adjustable mortgages, and FHA, SONYMA, FANNYMA, Community Homebuyer and soft second-loan programs.

Attracting many young first-time homebuyers, Sales Manager Judy Brackenrig reports more than 100 homes have been sold during the past nine months. Two-and three-bedroom townhouses in the community's current housing phase are priced from $99,650 to $129,650.
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Title Annotation:Mid-Year Review & Forecast, Section III; housing community developer King Estates Development Associates uses personalized financing computer program
Publication:Real Estate Weekly
Date:Jun 23, 1993
Previous Article:Princeton office rents may increase by year-end.
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