NEWS AND SPECIAL EVENTS
McBride Homes Offers 3.875% Financing
(Nov 1, 2018)
McBride Homes, for a limited time, is offering 3.875% financing for qualified buyers during the month of November.
“This is the deal of a century,” said John F. Eilermann Jr., CEO and Chairman of McBride Homes. “There will never be a better opportunity to get more home for a lower payment than right now.”
As both interest rates and the cost of homes are expected to rise over the next few years,
McBride Homes bought down the interest rate on a limited amount of new home loans in partnership with Groundwork Mortgage and Busey Bank. The financing package is a 3.875% 5/1 ARM.
The 3.875% interest rate for McBride homebuyers is available up to a $453,100 maximum principal loan amount with 90% loan to value. Buyers are able to lock 150 days ahead of their closing date, making it valuable to those wanting to build new construction.
“This is probably your last chance to get a rate in the threes,” said Eilermann. “Right now the average 30 day fixed rate is now around 5% or higher. This new lower APR rate doesn’t cost our buyers a dime, and the value to our customers will only increase over time as fixed interest rates slowly tick up.”
The new loan program is available only to new McBride homeowners and will be locally underwritten, locally funded, and locally serviced by Groundwork Mortgage and Busey Bank.
“For peace of mind, today’s ARM’s are very safe and allow you to get a better opportunity to purchase more home for a lower payment,” stated Eilermann. “Buyers used to be scared of the term ‘ARM’ in the past but now it just makes sense with a lower rate certainty for the next 5 years.”
McBride Homes’ 3.875% 5/1 ARM financing promotion is available on both inventory and to-be-built homes, with a 150 day lock for those building a new home from scratch.
“A 3.875% interest rate creates a huge increase in buying power,” said Eilermann. “This new low rate in the threes gives our buyers an opportunity to purchase a new home in a price point or location that may have been out of reach in recent past.”
McBride has over 40 communities, ranging from villas to luxury homes and offers every homebuyer ample product lines and price points ranging from the mid $100’s to well over $1 million.
“We already have the best homes in the best locations, now we are offering unprecedented rates,” stated Eilermann. “We strongly encourage buyers to visit us soon, because this promotion will absolutely end on November 30th or when rates go back up.”
You’ll find an all-inclusive list of McBride’s communities and over 100 move-in-quick inventory homes online at www.mcbridehomes.com. For more information, call 636-537-2000.
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