Are you thinking “New Year, New Home?” Our team at Herrington Homes is committed to making homeownership more affordable. By taking advantage of our 2024 Close Out Special. With this limited-time interest rate buy-down offer, you can enjoy an introductory rate as low as 3.875%* for the first year on select homes plus closing cost assistance.
Details for Conventional Loans
Key Incentive Details:
FHA Loan Example:
For a $395,000 Home Price (3.5% Down Payment)
- Year 1: 3.875% Rate → $1,824/month (Save $470/month, $5,640 annually)
- Year 2: 4.875% Rate → $2,053/month (Save $242/month, $2,904 annually)
- Years 3-30: 5.875% Rate → $2,294/month
✅ Total First-Year Savings: $5,640
✅ Total Second-Year Savings: $2,904
Conventional Loan Example:
For a $395,000 Home Price (20% Down Payment)
- Year 1: 4.625% Rate → $1,625/month (Save $398/month, $4,776 annually)
- Year 2: 5.625% Rate → $1,819/month (Save $204/month, $2,448 annually)
- Years 3-30: 6.625% Rate → $2,023/month
✅ Total First-Year Savings: $4,776
✅ Total Second-Year Savings: $2,448
Why It’s Great for Buyers:
- Lower Payments Upfront: Helps buyers ease into homeownership costs.
- Big Savings: Enjoy thousands of dollars in savings during the first two years.
- Flexible Options: Available for both FHA and Conventional Loans.
This program helps reduce monthly payments during the first two years, making homeownership more affordable upfront while easing buyers into their mortgage costs.
Click the links above for full details on each loan type or contact us today to get started!