2-1 Buydown program*
Features a reduced interest rate for the 1st two years and a fixed-rate** loan after the 2nd year on certain inventory homes paid by D.R. Horton! Here’s how it works!
Fixed Rate FHA Mortgage
3.99% (6.887 APR) Interest rate for year 1
4.99% (6.887 APR) Interest rate for year 2
5.99% (6.887 APR) Interest rate for year 3
3.5% down payment required.
Based on an FHA 30-Year fixed rate mortgage with a sales price of $367,405, a loan amount of $360,750, up front mortgage insurance premium of 1.75%, and a monthly payment of $2,949. Total monthly payment includes principal, interest, estimated taxes, mortgage insurance, homeowners insurance and HOA. Rate also available for VA loan programs. Funds for the temporary interest rate buydown used in this loan example will be offered as seller incentives up to $10,000 as disclosed in the sales contract. Buyer will have the option of using said incentive to pay closing costs OR to fund the temporary buydown cost of $7,999. SBC #9547.
Must contract on or after 10/10/23 in Florida and close on or before 12/29/23.
Special Program Cost - To receive this offer, borrower is REQUIRED to pay a 0.250% discount point. Discount points may be paid with seller financing incentive offered to the borrower, which will be represented on the Closing Disclosure as a seller’s cost. Maximum contribution limits will apply.
Contact us for more information4220 Race Track Rd., Suite 900
St. Johns, FL 32259
D.R. Horton North Florida