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3 Reasons Why New Homes May Be Affordable Than You Think

Many people may believe they can’t afford to purchase a new home. They may be scared away by the higher sticker prices, not realizing they may be passing up potential savings. 

“There are, in fact, deals to be had,” said New American Funding Senior Vice President of Growth and Expansion Mosi Gatling. “Homebuilders offer so much when it comes to different incentives.”

Many larger builders will buy down mortgage rates. This can be temporarily, for the first few years of the loan, or even for the full duration of the mortgage.

Some builders may even contribute to closing costs.

This has the potential to save buyers thousands, if not tens of thousands, of dollars.

In addition, new homes generally require fewer repairs and may be covered under a warranty. This means buyers may not be on the hook if the dishwasher breaks or there is a problem with the plumbing.

Mosi Gatling NMLS# 557166