How Low Interest Rates Can Help You Buy a New Home
Cresta | Los Angeles | Pardee Homes
Have you heard the news? Interest rates are currently the lowest they’ve been in years, and there are a number of reasons why this could be good news for homebuyers. Read on to learn more about how lower interest rates could help you move into the home of your dreams.
Lower Monthly Payments
When you purchase a home, you’re likely doing so by taking out a home loan or mortgage. Having a mortgage with a lower interest rate translates to a lower monthly payment for you, giving you more buying power. With a lower monthly payment, you may be able to buy that new home you thought was out of reach.
Save Even More With Pardee Homes
Right now, Pardee Homes Los Angeles is offering even more ways to save on a new home. During our Fall Into Savings sales event, enjoy historically low 2.75% (3.923% APR) financing for year 1 with a fixed rate of 3.75% (3.923% APR) for years 2 through 30 when you buy a qualified, move-in ready home at Aliento or Skyline in Santa Clarita. Plus, you’ll receive up to $10,000 in closing cost credit and free HOA for one year.
This special promotion has a “rate buydown,” which means your monthly payments in the first year of your home loan will be lowered significantly. Of course, the amount of money you could save will vary. Depending on the amount of money you borrow and the type of loan you obtain, you could save around $300 a month, or around $4,000 a year, during the first year of the loan.
More Money to Use Toward Personalizing Your New Home
Our Fall Into Savings incentives present a limited-time opportunity to lower your total home payments (including your down payment) for your first year. Not only can this make your new home more affordable, but it also gives first-time homeowners more wiggle room as you adjust to having a mortgage.
What will you do with the money you save in your first year? Maybe your new home needs some new furniture, or you’re dreaming of creating the coolest entertaining space in your new backyard. However you want to personalize your new home, lower monthly payments during your first year will help.
Good News for Renters
What do lower interest rates mean for renters? It could mean that your mortgage payments could be similar to what you’re paying in rent right now. Our Fall Into Savings promotion could help you qualify for a slightly higher mortgage or purchase price, and lower your monthly payments in the first year. As a first-time homeowner, you get to ease into having a mortgage by having a lower one in the first year. Home ownership may be closer than you think.
In today’s economic climate, these low interest rates could go up at any time. Take advantage of this limited-time opportunity now and lock in your savings! To learn more about our Fall Into Savings sales event and what a lower interest rate could mean for you, connect with a New Home Specialist at (661) 491-7075.