New Home Promotion in Cleveland

Need to move now?

Rates Starting at 3.375% (6.46% APR)*

Summer is the time for patio parties, nights by the outdoor fireplace and big savings when you buy a new home with Drees! Don't miss out on our new 3/2/1 Buydown promotion going on now until May 31. Right now, qualified buyers could move into a new Drees home with a starting rate of 3.375% (6.46% APR) when financing with First Equity Mortgage.

How does a 3/2/1 Buydown work?

Year 1

Enjoy payments based on an interest rate 3% lower, 3.375% / (6.46% APR) than your locked-in rate.

Year 2

Your rate is 2% lower, 4.375% / (6.46% APR) helping you save on your mortgage payment.

Year 3

Your rate is 1% lower, 5.375% / (6.46% APR) keeping your monthly payments low.

Year 4-30

Continue with your locked-in rate of 6.375% / (6.46% APR), ensuring predictable payments.

Just like summer, this promotion won't last forever. Schedule an appointment with a Drees Market Manager today!

Find your home

*Advertised interest rate of 3.375% (6.46% APR) is valid only on firm, non-contingent purchase agreements for eligible, owner-occupied quick move-in homes accepted by Drees Homes in the Cleveland area, between May 1-31, 2026, and close by June 30, 2026, with First Equity Mortgage Incorporated. With the advertised rate, borrower payments for the first year will be based on an interest rate of 3% below the current market rate. The second year’s payments will be based on an interest rate 2% below the current market rate. The third year's payments will be based on an interest rate 1% below the current market rate. In years 4-30, payments will be based on the original locked-in rate. For example, in the first year, borrower payments will be based on a 3.375% interest rate (6.46% APR), second year 4.375% interest rate (6.46% APR), third year 5.375% interest rate (6.46% APR), then 6.375% interest rate (6.46% APR) for the remaining 27 years. The APR does not consider any other loan specific finance charges buyer may be required to pay. Example shows a 30-year conventional loan for an owner-occupied home with a sales price of $700,000, 760 credit score and 20% down payment. Subject to standard qualifications and credit approval. Government and adjustable-rate mortgages are not eligible.

Incentives exclude homes built by the Elevate by Drees Homes division. First Equity Mortgage, Incorporated is an Equal Housing Lender licensed by the Ohio Department of Commerce, Division of Financial Institutions, License #RM803826.00; NMLS #21157 (www.nmlsconsumeraccess.org). Buyer is not required to finance through First Equity Mortgage, Incorporated to purchase a Drees Home; however, they must use First Equity Mortgage, Incorporated to receive this promotional rate. Other restrictions may apply. Drees Homes and First Equity Mortgage, Incorporated reserve the right to modify and/or terminate the promotion at any time. First Equity Mortgage, Incorporated is a wholly owned subsidiary of The Drees Company located at 211 Grandview Drive, Suite 102, Ft. Mitchell, KY 41017. Contact your First Equity Mortgage, Incorporated loan officer for financing details.