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How New Home Builders Can Help With Rising Interest Rates

Posted by realtoranna_admin on 28.02.2023

Everybody is talking about rising interest rates, and how the higher rates are affecting monthly mortgage payments.

It’s a viable concern, as prices have risen and with the higher rates, the difference in what your payment would have been at, say, 3.5% and a more current projection of 6.5%, would be several hundred dollars. While this is far from being equal to rates seen in the 80s and 90’s …that difference in payment can still be impactful.

While our market in the last couple of years has seen homeowners not giving up any closing cost assistance, and some homes selling for more than the asking price due to competition — New Homes has been a place where you did not have to compete with other buyers, and closing cost assistance was built into the list price.

Now that interest rates in mortgages have risen – builders and their preferred lenders have gotten together to help make things more affordable to buyers, so they can continue building and selling New Homes for you.

They have added incentives in some cases where they buy down the interest rates, lowering the interest, therefore lowering your monthly payments closer to what they were when the rates were at all-time lows.

Don’t just give up on your dream to own a home…especially a brand new one. As always, reach out to us here at TREG New Homes & Development, and we can share information on New Home sites and builders who are working to keep the dream alive!

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