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Our preferred loan officers offer many mortgage loan options that can help first-time home buyers, move-up buyers, or those seeking to downsize. These choices and incentives may either lower your interest rate or give you additional cash for closing. You'll be in good hands with our preferred loan officers when it comes to financing your mortgage. Here are some options to consider.
2/1 Buydowns
Many of our preferred loan officers are buying down your interest rate by 2% the first year and 1% the second year. If interest rates decline over the next two years, you are able to refinance.
ARM Loans
With an Adjustable Rate Mortgage (ARM) loan you are able to lock in a lower interest rate for around 5-10 years. If interest rates decline once your term is up, your loan will adjust to that new rate. You are also able to refinance at any time if rates come down!
Interest Rate Buydowns
If your interest rate is higher than you'd like, our preferred loan officers can offer additional incentives to buy your rate down for the length of the loan! Amounts may vary, but of course, you can use the $5,000 you get from Betenbough Homes to buy down your rate as well!
60-Day Interest Rate Lock
When you get pre-approved with one of our preferred loan officers, they will lock in your interest rate for 60 days at no cost to you! Choosing a move-in ready home + the 60-day rate lock-in means you can close on your home within that timeframe and not worry about a rate increase.
Free Mortgage Refinances Through December 2024
In some of Betenbough's regions, preferred loan officers are offering a FREE mortgage refinance through December 2024 in the event that interest rates go down! This is a huge benefit to you as a home buyer and can save you thousands. This has given many of our buyers the confidence to take the leap in purchasing their home NOW, knowing that their mortgage loan company will pay their refinance fees at a later date!
Help With Closing Costs
Once you find a home and mortgage payment that suits your budget, you'll need to think through closing costs. If cash for closing is a concern for you, we want you to reach out so we can connect you with a preferred loan officer. They can show you what your options are, because many programs are available that can help!
With home prices and values expected to continue increasing, finding ways to get creative in the short term will help you in the long-term! Use our 30 years of experience to help lock in a lower monthly payment while also purchasing a home that will only increase in value over time, resulting in more equity for you and your family!
When the economy was struggling in 2008, the median home price was about $190,000. By 2015 it was $210,000, and today it's nearly $390,000! Don't let the interest rates scare you from purchasing a home you want and deserve. We're in the business of making homeownership possible, and we have many options for you! Contact us today!
