Exclusive Home Buyer Program

Lenders provide interest rate pricing at either a premium, discount or at par.  An interest rate with a premium means the buyer is getting a credit back from the lender at that particular rate.  An interest rate that is priced with a discount means the buyer needs to pay a little extra to achieve that rate.  An interest rate that is priced at par means the buyer is neither getting a credit or paying a discount.  For example, if a 6.125% rate is par pricing and we provide an $5,300 credit to our buyer they can use that credit to buy down the rate to about 5.75%, please keep in mind that rates fluctuate so it is best to contact us for more exact numbers for your scenario.  There are many factors that impact interest rate pricing like loan amount, credit score, and property type to name a few. 

When you are searching for a home, typically the things that are top of mind are purchase price, down payment, and monthly payment.  However, you must also factor in closing costs when knowing how much to save for your home purchase.  Typically closing costs are around 1% of the purchase price.  However, there are many factors that go into that final number for all closing costs.  1% of an 530k purchase would be $5,300 so that buyer credit would really help to cover a majority of those costs.