May 8, 2019 at 4:58 pm #48712msm407Member
Has anyone who purchased new construction been able to get them to give closing help to use towards buying down the rate?May 8, 2019 at 5:14 pm #48716BakerTheBakerMember
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.May 8, 2019 at 6:08 pm #48724southfloridaMember
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 negotiateMay 8, 2019 at 6:35 pm #48729msm407Member
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 moneyMay 10, 2019 at 3:08 pm #48769TTrumbleMember
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.
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firstname.lastname@example.orgMay 16, 2019 at 3:38 pm #48838pratikMember
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).
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!
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