Coventry Homes is extending its Buyers Choice incentive through June, giving buyers a choice between and interest rate buy-down, an interest rate lock or paying no closing costs.
Coventry Homes is extending a popular incentive that offers homebuyers three different finaincing options to lower costs associated with buying a new home.
During the Buyer’s Choice Sales Event, June 1-30, Houston-area buyers who use the builder’s preferred lender and title company can choose from three financing options — an interest rate buy-down, extended interest rate lock or paying no closing costs — when they purchase a new Coventry home.
“Homebuyers really responded to this incentive when we offered it last month,” said Paul Blackburn, division president for Coventry Homes. “Every buyer is different, but when it comes to financing, they all want to lower costs. We give them the option to either lower their interest rate or pay zero closing costs — whatever works best for them.”
An interest rate buy-down allows home buyers to pay extra money to get a lower rate interest for a certain number of years. Interest rate buy-downs can help home buyers pay less interest over the life of their loan and save on monthly payments.
An extended interest rate lock allows buyers to cap their interest rate for an extended period of time, protecting the buyer if interest rates rise before the home closes.
In Texas, closing costs average 2 to 3 percent of the cost of a home. For a $300,000 home, closing costs can run from $6,000 to $9,000. Closing costs are due when the final paperwork is signed. Paying no closing costs saves buyers money up front because they aren’t writing a big check when their home closes.
Coventry Homes builds in 25 Houston-area communities, including Grand Central Park in Conroe, Coastal Point in League City, Sienna in Missouri City and Cane Island in Katy. Homes are priced from the $280,000s to more than $1 million.
To learn more about Coventry Homes, visit www.coventryhomes.com.
