Taking the leap into homeownership is an exciting step in anyone’s real estate journey. At Taylor Morrison, we understand that nerves are a natural part of the process, which is why we’re here to give you as much information as we can, answer your questions, and offer you flexible financing options tailored to your budget and lifestyle.
Before we dive into the details, let’s discuss why homeownership could be the right next move for you.
First, new homes are typically more energy efficient than older homes, saving you money in the long run. With better insulation, more sustainable, healthier building materials, and newer technology, the potential savings when it comes to energy efficiency is staggering! Plus, as a homeowner, you’ll enjoy increased stability, available tax benefits, design freedom, and the opportunity to build equity.
Think you could be ready to be a happy new homeowner? If so, we have a Summer Funds Sales Event happening right now! When you purchase a quick move-in home by July 31st and close by September 2nd, you can take advantage of our limited-time 4.99% 30-year fixed-rate / 5.611% APR. Then, we’ll provide you with up to 4% (3% in NC) of the total purchase price towards your financing. You can use your Summer Funds dollars towards one or more of these options! *
Closing costs are fees or expenses not included in the negotiated price. They can add up quickly! Luckily, your Summer Funds can help cover these expenses and keep more money in your pocket after closing on your new home.
Extended Rate Lock
An extended rate lock allows you to lock in an interest rate for an extended period of time. This is valuable because interest rates can be unpredictable. We’ll help you protect your rate while your home is under construction.
With rate terms of 6 months, 9 months, or 12 months, you can have peace of mind when making your monthly payments. Plus, if interest rates improve, you can take advantage of a “float-down” option within 30 days of your closing!
With a permanent buydown, you will buy down your rate to lower your future mortgage payments for the life of your loan term. This is a fantastic option if you plan to be in your new home for a long time.
Buydowns involve discount points equating to a percentage of your loan amount paid at closing. Discount points are exactly that; a “discount” on the current market interest rates. For example, a $100,000 loan amount with 1 discount point is equal to 1% or $1,000.
Temporary buydown loans allow you to take advantage of a lower interest rate at the beginning of your loan term. A common loan is the 2-1 buy down loan, where your interest rate is lower for the first two years of your loan. When you “roll-back” the interest rate in the first two years, you can ease into a payment that will be comfortable for the life of your loan! Here’s how it works:
You will save 2% on your interest rate during your first year in your new home.
You will save 1% on your interest rate in your second year.
And in your third year, your payment will be fixed for the remaining life of your loan.
A portion of your Summer Funds dollars can help lower your payments temporarily, giving you more time to save during your first years of homeownership. As a bonus, if you are planning to stay in your new home long term, you can couple the temporary buydown with a permanent buydown to enjoy even more savings over the life of your loan!
We hope you are as excited about our limited-time Summer Funds Sales Event as we are! This is a wonderful opportunity to get into a home you’ll truly love this year. As always, we’re here to help you make smart moves for your budget and life. *If you have any questions, please contact our Internet Home Consultants or Loan Consultants, and for complete details, restrictions, and licensing information, click here. Certain restrictions apply.
From all of us at Taylor Morrison, welcome home!