Over the last several years business has been booming for home builders across the country. As communities continue to grow and more people purchase new and custom built homes, builders need a mortgage partner with programs that benefit them and their buyers equally.
Below, we’ll outline how we work to incentivize home builders and homebuyers alike.
Reduce Inventory
At Guardian Mortgage, we’ve worked hard to develop mortgage products that encourage homebuyers to purchase new construction homes. We partner with preferred builders in our markets and offer Guardian Exclusive loan products like our Builder One, Builder Pro, and Dream Builder One. These loans offer a variety of lock and float-down options that make buying a new construction home more attractive to buyers while helping builders reduce their inventory.
1% Lender Credit
One of our biggest incentives for new construction homes is the 1%1 Lender Credit from our Builder Pro One program. This offers homebuyers 1% of their total loan amount as a credit to use toward their closing costs. And depending on the loan, this credit can be combined with a rate lock of up to 360 days. Giving your potential buyers more confidence in purchasing that newly built home.
Multiple Lock Options
Interest rates are constantly in flux so we have several lock options to give buyers even more confidence that they’ll get the best rate on their new mortgage. Depending on the builder loan, buyers can lock their rate from 90 to 360 days. Or, they can lock it for 90 to 360 days with a one-time float down option. So, if interest rates drop they’ll have a chance to lock in an even lower rate. These rate lock options are only available for new constructions. All in the effort to give buyers complete confidence in choosing a new construction home.
In the era of DIY and flipping homes, there’s still a high demand for new construction homes. So, whether you’re looking to reduce inventory or broaden your reach with potential buyers, Guardian Mortgage is the perfect partner for home builders with a range of new construction specific loans that includes great incentives for buyers. Contact one of our Mortgage Loan Originators today, to find out about becoming a preferred builder partner.
1Toward closing cost, rate reduction, and/or prepaids. Cannot be used for down payment. Program cannot be used in conjunction with the Heroes Program or combined with any other Affinity incentives. Purchase loans for primary residence only. This is a temporary offer and the lender credit is not tied to the interest rate. Limitations apply to the credit amount based on loan amount. Consult your Guardian Mortgage loan originator for details. Certain terms and restrictions apply. Program available only to qualified borrowers. Program subject to change without notice. Underwriting terms and conditions apply. Loan subject to credit review and approval.