3/2/1 Buydown Program1
Features a reduced interest rate for the first 3 years and a fixed-rate2 loan after the 3rd year on certain inventory homes paid by D.R. Horton! Must contract on or after 09/28/24 in select homes in Pima County and close on or before 12/31/24.
Special Program Cost - To receive this offer, borrower is REQUIRED to pay a .375% 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.
3.5% down payment required.
Based on FHA 30-Year fixed rate mortgage with a sales price of $431,745, a loan amount of $423,925, based on an upfront mortgage insurance premium of 1.75% and a monthly payment of $2,736. APR based on Note Rate above for Years 4-30. Total monthly payment includes principal, interest, estimated taxes, mortgage Insurance, homeowners insurance and HOA. Property eligibility requirements apply. Funds for the temporary interest rate buydown used in this loan example will be offered as seller incentives up to $6,000 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 $17,377.96. SBC #9699.
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