It’s that time of year… the weather is cooler, the leaves are piling up – and so are the savings! Looking to move now? Buy a new Drees Custom Home before November 30th and close by December 31, 2024, and you can take advantage of below-market financing with rates starting at 5.49% (6.572% APR) with a 2-1 buydown mortgage program through our partner, First Equity Mortgage.
How does this work? With a 2-1 buydown, in year one your payments will be based on a rate that's 2% lower than your original locked-in rate in year one. In year two, your payments are 1% lower than your original locked-in rate. In years 3-30, your mortgage rate will be the full locked-in rate. Sounds good, right? Drees Homes covers the difference between what your payment typically would be and the adjusted bought-down rate. Now's the time to get in on this "un-be-leaf-able" promotion!
*The 4.49% (6.572% APR) interest rate incentive is based on a 2-1 buydown of a conventional fixed-rate loan and is valid on firm, non-contingent, owner-occupied home purchase agreements accepted by Drees Homes between November 1-30, 2024, that close with First Equity Mortgage by December 31, 2024. The 2-1 buydown program may not be combined with other financing incentives. With the advertised rate, borrower payments for the first year will be based on an interest rate of 2% below the current market rate. The second year’s payments will be based on an interest rate 1% below the current market rate. In years 3-30, payments will be based on the original locked-in rate. For example, in the first year, borrower payments will be based on a 4.49% interest rate (6.572% APR Annual Percentage Rate, or APR), second year 5.49% interest rate (6.572% APR), then 6.49% interest rate (6.572% APR) for the remaining 28 years. The APR does not consider any other loan specific finance charges you may be required to pay. Example shows a 30-year conventional loan for an owner-occupied home with a sales price of $500,000, loan amount of $400,000, 760 credit score and 20% down payment. Loan products are subject to standard qualifications and credit approval. Government and adjustable-rate mortgages are not eligible for this program. The 2-1 buydown option is available on Jumbo loans but at a different interest rate. Rates, terms and conditions are subject to change or withdrawal without notice.
