Rate Buydown

As interest rates continue to increase, your budget when looking for a new home is more important than ever! We want to help lower your monthly payment or increase the total amount you can spend without increasing your monthly payment when you purchase a new Southern Home.

Here’s how it works:

For a limited time, if you sign a contract with Southern Homes, you can choose either up to $10,000 in options OR a ¾ point rate buydown when using Homebridge NMLS ID# 6521 as the preferred lender.

Here’s an example if you would like to decrease your monthly payment.

30-Year Fixed Rate FHA
Mortgage
30-Year Fixed Rate FHA Mortgage
with ¾ Point Rate Buydown
Sales Price $250,000 $250,000
Interest Rate 5.375% / 6.458% APR 4.5% / 5.57% APR
Estimated P&I* * $1,351/month * $1,222/month
Estimated Savings N/A $129/month

Here’s an example if you would like to increase the amount you can spend on your new home.

30-Year Fixed Rate FHA
Mortgage
30-Year Fixed Rate FHA Mortgage
with ¾ Point Rate Buydown
Sales Price $250,000 $274,000
Interest Rate 5.375% / 6.458% APR 4.5% / 5.57% APR
Estimated P&I* ** $1,351/month ** $1,351/month

Call us today to schedule an appointment with a member of our sales team to learn more!

The estimated monthly payments above represent examples based on purchase price of * $250,000 or ** $274,00 with a 3.5% down payment on 30-year fixed FHA mortgage at an original 5.375% rate/6.458% APR. As rate changes, so will the amounts in the chart. Offer subject to the requirements of the loan program selected by the buyer. All loans are subject to underwriting and loan qualifications of the lender. *Does not include taxes, mortgage insurance, or homeowner insurance. Program is subject to change. Cannot be combine with any other offers or promotions. Other restrictions may apply. Southern Homes of Polk County, Inc. is not an affiliate or partner of Homebridge and makes no guarantee, representation or warranty as to the above offer.