*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 January 1-31, 2025, that close with First Equity Mortgage by February 28, 2025. Excludes Elevate by Drees and townhomes. This offer may not be combined with any other 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.
Buyer is not required to finance through First Equity Mortgage to purchase a Drees Home; however, buyer must use First Equity Mortgage, Inc., an Equal Housing Lender licensed by the Ohio Department of Commerce, Division of Financial Institutions, License #RM803826.00; NMLS #21157 (www.nmlsconsumeraccess.org)., to receive the 2-1 buydown option. Other restrictions may apply. First Equity Mortgage, Incorporated is a wholly-owned subsidiary of The Drees Company located at 211 Grandview Drive, Suite 102, Fort Mitchell, KY 41017. Equal Housing Lender. See First Equity Mortgage loan officer for details.
**Up to $30,000 in Flex Cash towards Drees Homes Design Center credit or financial assistance is valid on firm, non-contingent purchase agreements for build to order homes, accepted by Drees Homes between January 1-31, 2025. Must close on home on or before February 28, 2025. Cannot be combined with any other offer. Buyer is not required to finance through First Equity Mortgage Incorporated to purchase a Drees home; however, buyer must use First Equity Mortgage, Inc., an Equal Housing Lender licensed by the Ohio Department of Commerce, Division of Financial Institutions, License #RM803826.00; NMLS #21157 (www.nmlsconsumeraccess.org) to be eligible to receive up to $30,000 in design center credit or financial assistance. Terms and conditions are subject to change or withdrawal without notice. First Equity Mortgage Incorporated is a wholly-owned subsidiary of The Drees Company located at 211 Grandview Drive, Suite 102, Fort Mitchell, KY 41017. These incentives may not be combined with any other offer. See a Drees Homes Market Manager or a First Equity Mortgage Incorporated mortgage loan originator for more details.