*Advertised interest rate of 3.75% (5.821% APR) is valid only on firm, non-contingent purchase agreements for eligible, owner-occupied quick move-in homes accepted by Drees Homes in the Indianapolis area, between February 1-28, and close by March 31, with First Equity Mortgage Incorporated. 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 3.75% interest rate (5.821% APR), second year 4.75% interest rate (5.821% APR), then 5.75% interest rate (5.821% APR) for the remaining 28 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 $500,000, loan amount of $400,000, 760 credit score and 20% down payment. Subject to standard qualifications and credit approval. Government and adjustable-rate mortgages are not eligible. The 2-1 buydown option is available on Jumbo loans but at a different interest rate.
First Equity Mortgage Incorporated, is an Equal Housing Lender licensed by the Indiana Department of Financial Institutions, License #10900, 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.