*Advertised interest rate of 4.375% has a 6.450% Annual Percentage Rate (APR) and is valid only on a firm, non-contingent purchase agreement for 133 Cypress Bluff Way, St. Augustine, FL 32084, accepted by Drees Homes in the Landing at Olde Florida Community between May 27 - June 6, 2025, and close by July 31, 2025, with First Equity Mortgage, Inc., an Equal Housing Lender licensed by the Florida Office of Financial Regulation, License #MLD550, NMLS #21157 (www.nmlsconsumeraccess.org).
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 4.375% interest rate (6.450% APR), second year 5.375% interest rate (6.450% APR), then 6.375% interest rate (6.450% 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. The 2-1 buydown option is available on Jumbo loans but at a different interest rate.
Buyer is not required to finance through First Equity Mortgage to purchase a Drees Home; however, they must finance with First Equity Mortgage to be eligible to receive advertised incentives. Incentive is subject to change or withdrawal without notice and may not be combined with any other promotion. First Equity Mortgage Incorporated is a wholly owned subsidiary of The Drees Company located at 211 Grandview Drive, Suite 102, Fort Mitchell, KY 41017. See a Drees Homes Market Manager or a First Equity Mortgage loan officer for details.