David SidoniFirst-time home buyer advocate, podcast host, and real estate pro helping renters become owners with real talk and no BS

Home builders are giving 30 year 4.99% mortgages!

Name: Home builders are giving 30 year 4.99% mortgages!
Uploaded: 2024-09-02T16:40:47+00:00
Duration: 48 s
Channel: David Sidoni
Description: David Sidoni shows homebuyers who got a builder to buy down their 30-year mortgage to 4.99% from 6.9%. They put 3% down, the payment came to about $300…

2 Sept 2024 · 1 min

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David Sidoni shows homebuyers who got a builder to buy down their 30-year mortgage to 4.99% from 6.9%. They put 3% down, the payment came to about $300 more than their rent, and they're moving from a 1,600 sq ft unit to 2,600 sq ft.

Questions this video answers

4.99% (30-year)

Approximately 6.9% (spoken as '6 9')

3% initial down (total effective costs ended up 10%)

1,600 square feet (current); moving to about 2,600 square feet

About $300 more per month

We're only paying $300 more than what we are paying in rent.
Our first interest rate was a 6 9.
They bought down the interest rate down to a 499.
If your unicorn realtor understands, here's the way the builders work. They have their last four or five left and they want to get out of Dodge.
Yeah.
They will suddenly have these massive incentives.
Our townhouse was 1600 square foot. We are currently.
In2620.
600.
1600 for $1700. And you're in2600 for $2000. How much did you put down?
Put 3% down. It ended up being 10. When we're all said and done.
And you have that home for under 5% interest.
Rate for 30 years.
Yep.
When are you guys sending me South Carolina good food or something to say thank you because this deal is.
Ridiculous.