0% Down Special Lending Program
With high interest rates spooking some home buyers and sending home builders into what can sometimes feel like premature retirement due to falling demand, builders are starting to take the matter into their own hands.
If high interest rates, are the problem, there's an easy solution: just bring them down.
Rate buydown programs and other interest rate specials are proliferating in the new-construction market, with builders making concessions to their bottom line to ensure that potential buyers aren't scared away by recent spikes in mortgage rates. They're offering programs to lock in interest rates, spending millions of dollars to buy guaranteed rates or simply offering a couple of years of discounted interest rates with the hope that buyers will be able to refinance at a better number before too long.
"Marry the home and date the rate," the saying goes, said Bob Powley, the vice president of operations for M/I Homes Detroit, whose corporate parent recently sold out of a 5.875 percent interest rate it paid for up front, in order to guarantee the rate for potential buyers.
Working with the Robertson Brothers' Team was such a pleasure. I have never purchased a new construction property and they made the process enjoyable and made me feel comfortable and confident throughout the entire process. Carrin, Tiffani and Tim were great to work with and I feel lucky to have them as part of my process. They kept me informed and communicated with me not matter what, even about the smallest, weirdest question. I am so grateful for their expertise and help. They are the best! I heard lots of horror stories about builders by Robertson Brothers is THE BEST in the business. They have been doing it for a long time and it shows!