2/1 Buydown Program1
Features a reduced interest rate for the 1st two years and a fixed-rate2 loan after the 2nd year on certain inventory homes paid by D.R. Horton! Must contract on or after 01/16/25 in Byrd Village and close on or before 03/31/25.
Special Program Cost - To receive this offer, borrower is REQUIRED to pay a 0.375% 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.
Here's how it works!
2.99% (5.879% APR)
Fixed Rate FHA Mortgage
Interest rate For Year 1
3.99% (5.879% APR)
Fixed Rate FHA Mortgage
Interest rate For Year 2
4.99% (5.879% APR)
Fixed Rate FHA Mortgage
Interest rate For Year 3 - 30
3.5% down payment required.
Based on an FHA 30-Year fixed rate mortgage with a sales price of $385,210, a loan amount of $378,233, up front mortgage insurance premium of 1.75%, and a monthly payment of $2,642. Total monthly payment includes principal, interest, estimated taxes, mortgage insurance, homeowners insurance and HOA. Rate also available for VA and USDA loan programs. 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 $7,920.99. SBC #9785.
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