There are ways to keep your interest rate low when building a new home in 2022!
In 2022, the Federal Reserve has continued to raise interest rates in order to impact inflation. The result of the interest rate hikes is that homeowners could expect to pay increased mortgage rates, thus allowing many to afford housing significantly cheaper than what they could before the increased interest. Homeowners that are building their new homes specifically have a challenge to overcome. Fortunately, there are a number of options and financing vehicles to overcome the rising interest rates of new construction homes.
Avoiding Rising Interest Rates During Your Home Construction
Demand for new homes remains consistent and strong. There are indeed ways to avoid the rising interest rates during your home construction process. If building a home, construction perm financing can lock your interest rate in for a full year. In doing so, you avoid and are not subject to regular rises in your mortgage rate while your home is being constructed. Construction Perm financing has a number of other potential benefits like not having to sell your home in advance of building your new home. In other words, you can time the sale and settlement therefore avoiding two moves. There are also a number of long term adjustable rate mortgages and bought down rates that can mitigate higher rates. Ameri-Star Homes can help walk you through those options and help you create the home of your dreams in central Maryland.
The Advantage of Working with Ameri-Star Homes
Ameri-Star Homes strives to provide you with the best deal possible on a high-quality, customized home in central Maryland. We aim to provide affordability, punctuality, and 100% satisfaction with our new home constructions. Our ability to maintain supply helps to quicken construction time and shield you from rising interest rates as well. Are you ready to pursue building your new home?
Let Ameri-Star Homes Build Your New Custom Home!
Ameri-Star Homes was built on the idea that a home is not complete until the homeowner is 100% satisfied. That’s right, completely satisfied homeowners. Whether you want a home built on one of our home sites or on your own land, count on the same high quality from Ameri-Star. We have set out to exceed all your expectations of integrity, affordability, and customer satisfaction. Build lasting memories for years to come with Ameri-Star Homes.