With a new year comes new opportunities. And for anyone looking to purchase a home, 2019 is the time to strike. That’s because current finance promotions like the 2-1 Buydown are making it easier to afford the home of your dreams.
This savings campaign from Darling Homes helps consumers pay some of their interest costs during the first two years of homeownership. It’s available to qualified borrowers with a minimum 680 credit score that finance with Darling Homes’ affiliated lender, Taylor Morrison Home Funding, LLC, and it applies to eligible showcase and move-in ready homes purchased as of January 4, 2019 that close on or before April 30, 2019.
With the promotion, you can save two percent off the current market rate during the first year of your mortgage and save one percent your second year. After that, a secure fixed rate mortgage carries you through the remaining life of the loan.
Individual savings will vary based on your home price, down payment, loan program and credit score. But, for example, on a conventional 30 year fixed program, $475,000 purchase price with a 20 percent down payment, you could save nearly $8,000 in the first two years. That’s a lot of money to be allocated however you see fit. Whether it’s furnishing your new home or replenishing your savings account, such savings allow the purchaser to prioritize their needs. See below for the breakdown.
| Year 1 | Year 2 | Years 3-30 | |
| Interest Rate | 2.875% | 3.875% | 4.875% |
| Monthly Payment | $1,576.58 | $1,786.91 | $2,010.99 |
| Monthly Savings | $434.41 | $224.08 | |
| Total Savings | $7,901.88 |
In addition to saving money over the first two years of your mortgage, the 2-1 Buydown program can also alleviate some of the interest rate angst felt in today’s market. Simply put, it offers significant short-term savings on top of a secure, fixed-rate mortgage, which can lessen the intimidation factor for many homebuyers.
To take advantage of the offer, just talk to your REALTOR®or search through available Darling Homes online. Across the DFW area, you’ll find beautiful, move-in ready homes in Allen, Frisco, Irving, McKinney, Prosper and The Colony. Options range in size and configuration, giving you plenty of choices for planning your move. And because the houses were built by Darling, you know they’re built to last.
Darling Homes was established in 1987 with a focus on building distinctive homes and exceptional communities, all while using the best materials and providing a superior customer experience. More than three decades later, that’s still the company’s goal. And, by offering promotions like the 2-1 Buydown, they’re making it easier for people to experience the joys of homeownership.
For more information, including program specifics and eligibility, check out the website. And remember: you must close by April 30 to take advantage of the offer, so don’t miss your opportunity to save.
