When is the right time to buy a home? Will interest rates drop or will home prices decrease? How is a home buyer to know the best time to make the best deal?

We’re all hearing reports anticipating interest rates will drop. So, what’s better – buying when prices are high or buying when interest rates are high? We say, buy now, and here’s why…

As interest rates increased over the past months, many potential home buyers have held back. So, demand for homes has declined, thereby reducing home prices. Waiting for interest rates to drop could result in more potential home buyers entering the market, which will increase demand and result in higher prices on new homes – especially as Florida continues to attract new residents.

We’re already seeing some drops in interest rates, but Southern Homes will help lower interest rates even more with a 2/1 buydown program, getting your rate as low as 3.25% (5.970% APR) as of 9/13/24. Then, if rates drop more, we’ve got you covered with a rate float down or a refinance with no lender fees!

And unlike interest rates, once you buy a home, you can’t change the purchase price.

Here’s how it works:

1. Southern Homes will pay to lower your interest rate by 2% for the first year of the loan. Your rate will adjust 1% each year until it returns to the original fixed rate after the buydown period.
   
2. Save monthly with reduced initial payments for two years.
   
3. When rates drop, we’ve got you covered with:
   1. A one-time rate float down – if you lock the rate in now, and rates improve by .25  or more before you close, we’ll float you down to that lower rate!
   2. A refinance period of up to 2 years with NO LENDER FEES!

These safety nets, along with Southern Homes’ local buying power, can reassure you that you’re making the most of your investment in a new home.