Toll Brothers Offers Detroit Home Buyers A Limited Time Below Market 30-Year Fixed Rate
America’s largest luxury home builder, Toll Brothers, is running a 10-day sales event that provides new home buyers in Metro-Detroit, Michigan every reason to capitalize on the current buyer’s market. Toll Brothers’ limited time offer of the lowest 30-year fixed rates in history for up to 12 months at no additional cost begins today and ends Sunday, June 7. The offer applies to any one of the nine Toll Brothers’ communities located throughout Detroit.
“Anyone buying during this event will receive a superior Toll Brothers home packed with more value than ever at an incredible price and at a rate that they can feel great about,” says William Bye, vice president of Toll Brothers. “It just doesn’t get any better than this.”
Here’s how it works:
Up until very recently the average 30-year fixed rate was at 5.5% with no points for loans up to $417,000. Toll Brothers’ special mortgage program allows buyers to take advantage of a rate close to 4.25% (4.3% APR) and lock in the rate for up to 345 days while your new home is built.
Christina Griffin, Business Development Manager for TBI Mortgage, Toll Brothers’ mortgage subsidiary, says this special mortgage incentive equates to real money in the buyer’s pocket. At 4.25%, someone securing a $417,000 loan will have a monthly principal and interest payment of about $2,052,” Griffin says. “This saves the buyer about $315 per month and well over $100,000 in interest over the life of the loan compared to a rate of 5.5%.”
This promotional offer is only available through TBI Mortgage and the minimum required down payment is 20%. Buyers may also apply for a jumbo loan (a loan over the industry standard of $417,000) which are also available at a discounted interest rate. Additional programs and packages have been designed to meet the needs of all buyers. As always, certain conditions do apply, so potential buyers should speak with a Toll Brothers sales representative for specific details.
In Fortune magazine’s World’s Most Admired Companies 2009, Toll Brothers was voted number one among home builders in Quality of Management, Quality of Products and Services, Long-term Investment, Financial Soundness, and Use of Corporate Assets.
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