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Why Rent When You Can Own at Bear Creek Glen?

Own a new home for as low as $1,450/month*

Are you tired of paying rent every month without building any equity? We get it. Student loans, city living, and changing lifestyles have delayed homeownership. But guess what? You can still do it! It’s time to make a smart move! Qualified buyers who finance with First Equity Mortgage may be able to pay as little as $1,450/month through the end of August when you purchase a new townhome at Bear Creek Glen in Columbia, TN. This is a special rate, so don't delay!
 
Why Buy?
 
  • Affordability: For the same or even less than your monthly rent, you can own a beautiful townhome with private attached parking!
  • Tax Benefits: Say goodbye to rent hikes and hello to tax breaks! Homeownership comes with financial advantages.
  • Investment: Every payment you make builds equity. It’s like saving for your future while enjoying your home.
 
Ready to turn your rent into an investment?

*The initial advertised monthly payment is based on 2-1 temporary buydown incentive with a 5.00% (5.771% Annual Percentage Rate (APR)) interest rate on an FHA 30-year fixed rate loan. The initial advertised monthly payment does not include taxes, homeowner’s insurance, mortgage insurance or HOA dues which will result in a higher payment. Estimates are subject to change; payment obligation may be greater.

 

The example monthly payment represents a 30-year FHA Fixed Rate Mortgage for an owner-occupied home with a sales price of $350,000, loan amount of $343,660, a minimum 640 credit score and 3.5% down payment.  In the FHA payment example for a 2-1 temporary buydown on a 30-year mortgage at a fixed rate of 5.000% (5.771% APR), you would make 360 monthly payments of $1,844.84. The initial advertised monthly payment of $1,448.88 assumes a 2-1 temporary buydown program with a starting interest rate of 3.00% (5.771% APR) for months 1-12. This advertised payment is the portion you will pay out of pocket monthly.  The remaining $395.96 will come from your escrow account paid by the seller at close. The rate of 4.00% (5.771% APR) for months 13-24 will also have a full payment of $1,844.84 with an out of pocket payment from you of $1,640,69. The remainder of the full $1,844.84 payment will come from the same escrow account funded by the seller. Remaining months 25 through 360 will have an interest rate of 5.00% (5.771% APR) and the entire principle and interest payment of $1,844.84 is due from you directly. Subject to standard qualifications and credit approval. FHA Adjustable Rate Mortgages are not eligible for this program. Contact your First Equity Mortgage loan officer for details. Rates, terms and conditions are subject to change or withdrawal without notice.

 

Financing incentives available on select move-in ready homes at Bear Creek Glen with a signed, non-contingent purchase agreement approved by Drees between 9/01/24 and 9/30/24 and close by 10/31/24, with First Equity Mortgage, Inc., an Equal Housing Lender, licensed by the Tennessee Department of Financial Institutions, License #109228, NMLS #21157. Buyer is not required to finance through First Equity Mortgage to purchase a Drees Home; however, they must use First Equity Mortgage to receive this limited promotion. Drees Homes and First Equity Mortgage reserve the right to modify and/or terminate the promotion at any time. First Equity Mortgage 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 loan officer for details.