When purchasing a new construction home, your builder may offer incentives that can provide significant advantages to homebuyers! These incentives are designed to make the homebuying process more affordable, especially for first-time homebuyers. Here are a few builder incentives to be on the lookout for to maximize your savings!
Rate Buydowns
When mortgage rates are on the rise, your builder may offer a mortgage rate buydown, where the lender offers to pay a portion of the interest for a set period of time. This can make your new home more affordable in the initial years and help you ease into homeownership with lower costs.
Rate Locks
Interest rates can fluctuate day-to-day, and a rate-lock may secure a favorable interest rate during your homebuying process. A builder’s preferred lender may offer rate-locks for a specified period, giving you ample time to finalize your new construction home purchase. This incentive protects you from potential rate increases before closing, providing peace of mind and financial stability!
Closing Cost Assistance
Closing costs, which often include fees for appraisals, inspections, loan origination and more, can add up quickly. Some builders may offer closing cost assistance as an incentive for new homebuyers, covering a portion or all these expenses!
Builder incentives can provide significant financial benefits and make homebuying more accessible to first-time homebuyers! When shopping around for new construction homes, ask your Pulte Mortgage Financing Advisor if you can utilize any of these incentives to maximize your homebuying savings!
