Close on an eligible property with TimberCraft Homes within 45 days or less to take advantage of this offer. The home must close for costs to be covered. Use a credit of up to $10,000 towards the following.
TimberCraft contributes a certain amount toward the interest rate buydown. This contribution can vary but is typically a one-time payment made on behalf of the homebuyer. However, with this incentive, TimberCraft is offering to cover this payment if it is within up to $10k on select homes.
The lender, in collaboration with TimberCraft, agrees to reduce the borrower’s interest rate based on the builder’s contribution. The lowered interest rate remains in effect for the entire mortgage loan term.
The borrower benefits from a lower interest rate, which results in reduced monthly mortgage payments over the life of the loan. This can make homeownership more affordable, particularly in the early years of the mortgage, when payments are typically higher.
The specific terms and costs associated with this type of buydown can vary. It’s essential for the borrower to understand the details of the arrangement, including any potential future adjustments to the interest rate. Terms apply based on qualifications such as credit score.
Owning a home is a keystone of wealth… both financial affluence and emotional security.Suze Orman