3/2/1 Buydown Program1
Features a reduced interest rate for the 1st 3 years and a fixed-rate2 loan after the 3rd year on certain inventory homes paid by D.R. Horton! Must contract on or before 12/07/25 in Carolina Groves, Center Point, Founders Corner, Hillcrest, Huggins Hill, Pine Hills, Pineview North, Rivers Reach, Sheep Island, The Cove at Mallard Crossing, The Oaks, The Timbers Communities communities in and close on or before 12/31/25.
Here's how it works!
0.99% (4.893% APR)
Fixed Rate FHA Mortgage
Interest rate For Year 1
1.99% (4.893% APR)
Fixed Rate FHA Mortgage
Interest rate For Year 2
2.99% (4.893% APR)
Fixed Rate FHA Mortgage
Interest rate For Year 3
3.99% (4.893% APR)
Fixed Rate FHA Mortgage
Interest rate For Years 4 - 30
3.5% down payment required.
Based on an FHA 30-year fixed-rate mortgage with a sales price of $317,390, a loan amount of $311,641, an up-front mortgage insurance premium of 1.75% and a monthly payment of $1,868. APR based on Note Rate above for Years 4-30. Total monthly payment includes principal, interest, estimated taxes, mortgage Insurance, homeowners insurance and HOA. Rate also available for VA loan programs. Property eligibility requirements apply. Funds for the temporary interest rate buydown will be offered as seller incentives 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 $11,935.30.
Special Program Cost -To receive this offer, borrower is REQUIRED to pay a .750% 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.
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