First-Year Rates as Low as 2.875% / 5.632% APR (FHA)* and 3.875% / 5.9398% APR (Conventional)**
For a limited time, with a 2/1 temporary mortgage rate buydown, you can secure first-year rates as low as 2.875% / 5.632% APR* on a 30-year fixed FHA mortgage or 3.875% / 5.9398% APR** APR on a 30-year Conventional rate mortgage on select homes that can close by February 28th, 2025.*
More Details:
For a limited time, and at no cost to you, lock in a 2/1 Rate Buydown on a FHA-fixed rate mortgage or a 30-year conventional fixed-rate mortgage on select homes that can close by February 28th, 2025.* This program is offered through M/I Financial, LLC and is exclusive for new contracts written on homes that can close by February 28th, 2025 for their advertised price.
2/1 Rate Buydown on a 30-year FHA fixed-rate mortgage:*
- Year 1: 2.875% Rate / 5.632% APR
- Year 2: 3.875% Rate / 5.632% APR
- Years 3-30: 4.875% Rate / 5.632% APR
2/1 Rate Buydown on a 30-year conventional fixed-rate mortgage:**
- Year 1: 3.875% Rate / 5.9398% APR
- Year 2: 4.875% Rate / 5.9398% APR
- Years 3-30: 5.875% Rate / 5.9398% APR
Plus: For a limited time, receive an additional 2% of base price to use towards allowable closing costs.***
This amazing rate will not last long, so contact our Internet Sales Team to schedule an appointment!
*The APR is based on an estimated loan amount of $400,000 loan amount. Financed amount is $407,000 which includes the FHA UFMIP of 1.75%. A 3.5% down payment and a minimum credit score of 640 is required. The interest rate applies to a 30-year FHA loan with a 2/1 buy-down. The interest rate is temporarily reduced to 2.875% for year 1, 3.875% for year 2, and 4.875% for years 3–30. The ANNUAL PERCENTAGE RATE is 5.632%. Program is available on selected Quick Move-In homes and applies to new contracts only. Promotion does not apply cancellations, re-writes, or transfers. The seller’s contribution is limited to agency limits, which depend on the loan program and LTV. Buyer must occupy the property as their primary residence and meet all qualification requirements of the program. The buyer must make a loan application within 48 hours of contract signing and must close by February 28, 2025. Other financing programs may be available with as little as 5% down. The rate is subject to change without notice and is not guaranteed until locked with M/I Financial, LLC. Financing is offered through M/I Financial, LLC (NMLS# 50684). Maximum allowable FHA county loan limits apply. Available on new business only to new customers not currently under contract with M/I Homes. Available on advertised price only. Cannot be combined with any other advertised M/I Financial, LLC incentive. Please see a New Home Consultant for more information and details.
**A 20% down payment and a minimum credit score of 720 is required. The interest rate applies to a 30-year Conventional Loan with a 2/1 buy-down. The interest rate is temporarily reduced to 3.875% for year 1, 4.875% for year 2, and 5.875% for years 3–30. The ANNUAL PERCENTAGE RATE is 5.9398%. Program is available on selected Quick Move-In homes and applies to new contracts only. Promotion does not apply cancellations, re-writes, or transfers. The seller’s contribution is limited to agency limits, which depend on the loan program and LTV. Buyer must occupy the property as their primary residence and meet all qualification requirements of the program. The buyer must make a loan application within 48 hours of contract signing and must close by February 28, 2025. Other financing programs may be available with as little as 5% down. The rate is subject to change without notice and is not guaranteed until locked with M/I Financial, LLC. Financing is offered through M/I Financial, LLC (NMLS# 50684). Conforming Conventional loan limits apply. Available on new business only to new customers not currently under contract with M/I Homes. Available on advertised price only. Cannot be combined with any other advertised M/I Financial, LLC incentive. Please see a New Home Consultant for more information and details.
***The buyer to receive up to 2% of the base price of their home to be used towards allowable closing costs on contracts written between October 29th, 2024 and December 31st, 2024. The Seller's contribution is limited to agency limits, which depend on the loan program and LTV. Buyer will be responsible for any down payment required by the loan program guidelines and any upfront mortgage insurance premiums. Some restrictions apply. The offer is for a limited time only and is subject to change without notice. Offer is not available for renegotiation on existing contracts and is subject to change without notice. See New Home Consultant for complete details.
Have questions for us?
Ask about current properties or more details about this incentive, or call (512) 265-0288