Discover the Best Deals in New Construction Homes

Buying a new construction home in Frisco, TX, or its surrounding communities is an exciting endeavor, and the good news is, the market is ripe with opportunities! Despite the competitive nature of the housing market in Frisco, savvy buyers like you can find exceptional deals, thanks to a range of enticing incentives offered by new home builders. Watch the following video, or continue reading below, as I guide you through the best incentives available and explain how they can significantly improve your home-buying experience.

Understanding the Impact of Mortgage Rates

The recent jump in mortgage rates has undoubtedly influenced the home buying landscape. However, it's crucial to recognize that mortgage rates affect your home's affordability more dramatically than the actual price of the property. For instance, a 1% reduction in your mortgage rate can feel like a 10% cut in your home's price. With rates recently showing a slight decrease, this is akin to an automatic price reduction, providing you with a fantastic opportunity to secure your dream home at a more affordable rate.

Builder Incentives: Types and Benefits

Builders are responding to buyers' needs by offering a variety of incentives, primarily focused on financing options to help you manage mortgage rates effectively. These incentives generally fall into three categories:

  1. Permanent Rate Buydown: Some builders offer this incentive, significantly lowering your mortgage rate for the loan's lifetime.

  2. Tiered Rate Buydown: Other builders provide a gradually increasing rate, starting significantly lower and stabilizing after a few years.

  3. Closing Cost Contributions: A versatile offer where builders provide cash that can be applied towards closing costs or rate buydowns, catering to various buyer needs.

Exclusive Offers from Top Builders

Here are some of the most attractive incentives currently available from reputable builders in the Frisco area:

  • Highland Homes: Offering a generous $15,000 incentive that can be used for rate buydowns or covering closing costs. Available across all communities but time-sensitive.

  • Mattamy Homes: Introducing a tiered buydown program with rates starting at 2.99% then increasing by 1% per year until fixed at 5.99% after three years for the life of the loan. It’s important to point out that buyer qualification is based on the final rate, not the introductory rate.

  • Taylor Morrison: Providing a permanent rate buydown with a fixed 4.99% rate for 30 years, although not available on all homes in all communities.

  • First Texas Homes: Proposing up to $20,000 for closing costs or rate buydowns, starting as low as 3.99%, depending on the home's price and community.

  • Coventry Homes: Offering a choice between covering all closing costs or a permanent rate buydown fixed at 5.99% for 30 years.

CLICK HERE to See All New Construction Homes Currently For Sale

Maximizing Your Benefits and the Path Forward

Remember, these deals are most beneficial if you opt for in-house financing from the builders, though some external lenders might be able to match these offers. While not all buyers will qualify for these incentives, they are a testament to the variety of options available to suit different financial situations.

Unveiling the Best Deals: Quick Move-Ins and Builder Closeouts

The hottest deals are often found in quick move-in or builder closeout homes. Builders are eager to sell these homes to avoid holding inventory, translating into substantial savings and added benefits for you.

I showcase a number of these opportunities on my YouTube Channel

Ready to Take the Next Step?

If you're interested in exploring these opportunities further, don't hesitate to reach out. You can easily contact us to get more detailed information on any builder or community that catches your eye. And if you're ready to take a more significant step towards your new home in Frisco, schedule a call at your convenience. We're here to guide you to the best new construction deals and ensure your home-buying journey is as rewarding as possible.

In Frisco's dynamic housing market, understanding and leveraging builder incentives can significantly enhance your buying power. With the right guidance and knowledge, your dream home in Frisco is within reach. Get in touch today, and let's make it happen!

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