Building A New Home?
With the resale home inventory approaching record low levels and well-priced homes selling over list price and often in less than a day, many buyers are turning to new home construction to get exactly what they want. There are a lot of advantages to building a new home, most notably the endless options to customize to your heart’s content. If you are considering building a new home, make sure to reach out to your Advanced Mortgage Professional today to learn about our extended rate-hold options.
What is a Builder Rate Hold?
When you’re building a new home, it can take up to 9-12 months for it to be completed. We have lenders who can lock in your interest rate for a 12-month period. This creates a ceiling for you so that if interest rates ever increase while building your home, your rate will stay the same. This is a Builder Rate Hold but there’s more…
Depending on the projected completion date, we can arrange for a 4-, 6- or 12-month rate hold to shield you against rising interest rates. If rates go up, you’re protected, and if they go down, we will move you to the most competitive lender before possession. With Advanced Mortgage you’re covered no matter what.
We’ve built relationships with local credit unions and national lenders to offer a suite of new construction products tailored to suit your needs.
Advanced Mortgage has facilitated hundreds of new builds over the years, and we’ve got the expertise you need to navigate this complex transaction. We’ll give you the confidence and peace of mind that your financing is in place so you can focus on the important things like that show stopping kitchen backsplash or that boutique walk-in closet you’ve always wanted.