Savoir Faire

Interest Rate

5 posts in this topic

Maricopa County and Tuscon Arizona Builder is offering 3 percent interest rates on New Homes. Sounds pretty good, I just wish it was in Colorado, I would jump all over it. 

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Is the individual counties backing the mortgages at 3% interest or are the mortgage companies doing this in their own?

Are they fixed rate marriages?

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Do tell more please.

On 2/1/2025 at 9:45 PM, Savoir Faire said:

Maricopa County and Tuscon Arizona Builder is offering 3 percent interest rates on New Homes. Sounds pretty good, I just wish it was in Colorado, I would jump all over it. 

 

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16 hours ago, Kali Sensual Reiki said:

Do tell more please.

 

The builder and lender are owned by the same company. If they lose money on a low rate, they make it up with higher closing costs and by charging more for the house. 

Existing home owners get upset when the builder sells home for less then they had paid for their home. This allows builders to keep you focused on the great rate you are getting while distracting you from the higher prices you are paying. Classic sales technique. 

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8 hours ago, Mustang87 said:

The builder and lender are owned by the same company. If they lose money on a low rate, they make it up with higher closing costs and by charging more for the house. 

Existing home owners get upset when the builder sells home for less then they had paid for their home. This allows builders to keep you focused on the great rate you are getting while distracting you from the higher prices you are paying. Classic sales technique. 

Thank you, @Mustang87. I can understand the people’s anger. This I would believe happens all over the country. If you want the house you need to sign their documents. Very stingy! I don’t think Intrested rates are going to go any lower. I could be wrong. Every day I get those phone calls to refinance. Nope I am not budging

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