With KOLTERHOMES® 3-2-1 Rate Buydown you can move into a new home this year with a starting rate of 4.75%
What is a 3-2-1 temporary buydown? Buyers receive a 30-year fixed rate loan with an interest rate that is discounted the first three years. The original higher fixed rate does not go into effect until year 4. The benefit is that buyers can ease their way into a new home for the first few years of their loan. PLUS, Kolter Homes finance affiliate CTC Mortgage promises to refinance your loan with CTC's Customer Loyalty Program any time rates go down. This ensures a streamlined process with discounted closing costs and credit towards a new appraisal.
CTC Mortgage will refinance the same property any time after six on-time payments and includes the following discounts: waived credit report and lender fees, and up to $600 in credits to cover the cost of an appraisal. Offer valid on select move-in ready homes that contract and close by December 15, 2023. Speak with a Kolter New Home Guide for complete program details and requirements.
THE FINE PRINT:
©2023. Offers, incentives, and seller contributions, if any, vary by community and are subject to certain terms, conditions, and restrictions. Promotion available on select move in ready homes and close by 12/15/2023. Kolter Homes reserves the right to change or withdraw any offer at any time. Advertised rates are subject to change and may expire without notice. Minimum 20% down for loan amounts between $300,000 and $726,200. Primary residences only. Excludes FHA/VA loans. For Qualified buyers only, other programs are available. Loan scenario assumes a $650,000 purchase price and $520,000 loan amount on a conventional 30 year fixed 3/2/1 buydown with 740 credit score. Rate of 7.75% (7.996% APR) is fixed for the entire 30 year term, but initial payments are reduced based on the buydown benefit. Buydown Benefit for year 1 is 3%, year 2 is 2%, year 3 is 1% and years 4-30 are no longer discounted. First year interest rate is 4.75%, 12 monthly P&I payments of $2713. Second year interest rate is 5.75%, 12 monthly P&I payments of $3035. Third year interest rate is 6.75%, 12 monthly payments of $3373. Starting in the fourth year, interest rate is fixed at 7.75% (7.996% APR), 324 P&I payments of $3725.34. All payments quoted are for principal and interest only, and exclude tax, insurance and HOA, so actual monthly payment obligation will be higher. *This is not an offer to lend. Rates effective 10.12.23. Offer valid for financing with CTC Mortgage Company LLC only. NMLS #371182, 4803PGA Blvd. Suite B, Palm Beach Gardens, FL 33414. Equal opportunity housing lender.
