Home Finance Options that Sell
Over the weekend I previewed new construction homes. One of the plats that I visited was offering 30 year fixed rate financing at 3.85%! The homes were priced in the high $500’s to mid-$600’s. Of the 10 homes in the plat there are only two remaining and probably by the end of the week only one.
The site agent explained to me that this 3.85% rate offer has gotten smart buyers to make the move. In order for the builder to offer this amazing interest rate they are paying approximately 5 points at closing for the buyer to buy down the rate.
Another finance program that got my attention was emailed to me by a lender I work with. Here is what she had to say:
“Hi. I have heard everyone say that their client’s only want to buy if “they can get a deal”…well here is a pretty sweet deal! We have a new loan to offer for any
Fannie Mae owned REO properties.
Purchase as primary residence for 5% down, NO mortgage insurance and get this…NO appraisal.
Purchase as a second home or rental for 10% down, NO mortgage insurance and NO appraisal.”
For information on getting a “deal” on a home or any of these programs call at 206-200-9849