Estate Homes Fee Options

Option I — Rental

Entrance fee is established by the market value of the home.
Entrance fee for this option is 10% of value of the home. The monthly maintenance fee is 1.95% of the value of the home — standard increases apply each year.
Example: Value is $175,000, entrance fee is $17,500, monthly rent is $3,412.50.

Entrance fee is the market value of the home.
Initial payment — 10% reverts to St. Paul’s.
90% amortizes (declines) over 10 years.
Resident pays normal monthly fee — standard increases apply.
In a higher level of care the unamortized amount may be used to help pay for costs of care.
Example — Value is $175,000, entrance fee is $17,500 reverts to St. Paul’s, $157,500 declines over 10 years.

Entrance fee is the market value of the home plus 50%.
Initial payment — 10% of entrance fee reverts to St. Paul’s.
40% amortizes (declines) over 10 years.
Refund is 50% of the amount initially invested.
In a higher level of care the 50% refundable amount and the unamortized amount may be used to help pay for costs of care.
50% of remaining entrance fee is refunded to resident upon move from St. Paul’s or to resident’s estate upon death once the home is remarketed.
Resident pays normal monthly fee — standard increases apply.
Example: Value is $175,000, entrance fee is $262,500 — $26,250 reverts to St. Paul's, $105,000 amortizes (declines) over 10 years — $131,250 refunded.

Entrance fee is the market value of the home plus 90%.
Initial payment — 10% of entrance fee reverts to St. Paul’s.
Refund is the 90% of the amount initially invested.
In a higher level of care the 90% refundable amount may be used to help pay for costs of care.
90% of remaining entrance fee is refunded to resident upon move from St. Paul’s or to resident’s estate upon death once the home is remarketed.
Resident pays normal monthly fee – standard increases apply.
Example: Value is $175,000, entrance fee is $332,500 — $33,250 reverts to St. Paul’s, $299,250 refunded.

Age 72 is based on the oldest occupant of the Accommodation
Pay an amount equal to the value of the Accommodation
First 10% reverts to St. Paul’s
Remaining 90% is reserved under resident(s) name, where it remains without amortizing, until the oldest occupant turns 72.
At age 72 resident(s) choose option II, III, or IV in writing. If no option is selected in writing, the Entrance Fee will automatically convert to Option II – 10%/90% Amortize Option.
If you leave the Community before age 72, Option II shall apply retrospectively beginning in the month of the Designated Occupancy Date or of Occupancy, whichever is earlier.
We shall refund to you ninety-five percent (95%) of the remaining Entrance Fee if you leave within the first twelve (12) months of Occupancy.
We shall refund to you eighty percent (80%) of the remaining Entrance Fee if you leave after the first twelve (12) months of Occupancy.

The monthly fee is $1,300 for a home 1000 to 1500 sqft, $1,460 for a home 1501 to 2000 sqft, and $1,570 for a home 2001 sqft or larger.
Unamortized amounts can be used for a higher level of care.
Refundable amounts can be used for a higher level of care.
95% of the remaining entrance fee will be refunded to the resident if the home is vacated for reasons other than death or the need of a higher level of care within twelve (12) months upon remarketing.
80% of the remaining entrance fee will be refunded to the resident if the home is vacated for reasons other than death or the need of a higher level of care after twelve (12) months upon remarketing.

Note: Additional fees include electric, gas, phone and cable (cable is $35/month for standard services)