New Construction Closing Assistance.

Home Forums Purchase Program New Construction Closing Assistance.

Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • #48712
    msm407
    Member

    Has anyone who purchased new construction been able to get them to give closing help to use towards buying down the rate?

    #48716

    Who? The builder? All of the builders in this area only offer closing assistance if you use their lender, unfortunately. They offer other incentives like upgrade packages, but closing cost help is only if you use their preferred lender.

    #48724
    southflorida
    Member

    I was able to get incentives from the builder, at first they told me that they would only give me the incentives if I used one of their approved lenders, I told them that if they give me the incentives I would purchase the house, I walked out of the office and they called me later that day telling me that they were going to allow me to use NACA and they were going to give me the incentives. However, it was a small local builder, it may not be the same with a big builder which the approval has to come from a higher up. You just have to be persistent and negotiate

    #48729
    msm407
    Member

    @bBakerTheBaker

    @southflorida

    Oh ok. I’m ok with free upgrades, i have money to buy my rate down, but houses in this area are expensive, I’m trying to get as much as I can for my money

    #48769
    TTrumble
    Member

    Hello msm407,

    Actually, you can probably get the builder to give you the incentives as closing assistance to help buy down the interest rate.

    As @southflorida proved, with a little old-fashioned tough negotiation you can get the small builders to pony up, and @pratik proved that the big guys like DR Horton will come through too as long as you know their policies and take advantage of them.

    Pratik’s in the middle of a pretty major life/career event right now, so I don’t think I’m going to ask him to chime in right at the moment, but don’t be afraid to go after the builder’s incentives. They want to sell you the home, and they’ll step up once they realize that’s what they really need to do to close the deal.

    Tim Trumble
    Online Operations, NACA
    ttrumble@naca.com

    #48838
    pratik
    Member

    Hey @msm047,

    I could milk 15k out of DRHorton, thanks to my sales manager there who helped me, by using 10k of upgrade discounts and 5k of preferred lender discount (after signing for this discount, bringing NACA offer makes any lender default, leaving the incentive for you – unless specifically worded in such contract).

    Read up here:
    http://forums.naca.com/?topic=my-naca-journey-plus-extras-and-d-r-horton-experience

    There is another post somewhere, but I can’t find, as wordpress frequently confuses me with a machine and blocks me as I swipe through pages little too quickly. @ttrumble, please address this issue – this is not the first time I am bringing this up!

    Also, thanks for your consideration. I am transitioning to a new place and everyone surrounding me is phenomenal!

    Cheers,
    Pratik

Viewing 6 posts - 1 through 6 (of 6 total)
  • You must be logged in to reply to this topic.
Follow us on Facebook RSS Feed Follow us on Twitter