SCOTTSDALE, Ariz., Jan. 7, 2019 /PRNewswire/ -- Taylor Morrison
Home Corp. (NYSE: TMHC) recently launched a thoughtfully planned
2-1 buydown from a fixed rate mortgage program enabling consumers
to realize the dream of owning their own home while Taylor Morrison
helps pay some of the interest cost during the initial years of
homeownership.
Unlike an adjustable rate mortgage, the Taylor Morrison 2-1 rate
buydown for Conventional and FHA financing for qualified
owner-occupied borrowers with a minimum 680 credit score, allows
consumers to pay their mortgage payment at a rate two percent below
the fixed rate mortgage the first year and one percent lower the
second year before enjoying the security of a fixed rate mortgage
over the remaining life of the loan. That kind of certainty allows
for families to plan their finances and prioritize their needs
during the first years of owning their home without the uncertainty
adjustable rate mortgages can bring.
"While homeownership is attainable for many people, the
uncertainty in not knowing what the future holds with respect to
interest rates can cause real angst for today's buyers," said
Taylor Morrison Chairman and CEO Sheryl
Palmer. "We understand this impact and wanted to remove that
barrier for our customers."
The 2-1 rate buydown begins Jan. 4
on move-in ready homes that close on or before April 30, 2019.
"The buydown program is an excellent choice for many families
and hasn't been widely used for some time," said Tawn Kelley, president of Taylor Morrison Home
Funding. "For a builder to offer this kind of financial incentive
to ease the costs of mortgage interest, it can make a significant
difference to a family's first years settling into their home and
is quite unique.
"It is a perfect solution for people who may be expecting a
promotion or working on paying off a car loan or credit card
balances or, just wanting the extra dollars to bolster their
savings. To put it simply, it offers our customers a priceless
gift—savings with the peace of mind knowing they have a mortgage
that is secure no matter how long they choose."
The buydown rates are calculated from Taylor Morrison Home
Funding's current market rate for Conventional and FHA fixed rate
mortgages 15- or 30-year term at time of rate lock. To
qualify for the program, buyers must finance their home with Taylor
Morrison's affiliated lender, Taylor Morrison Home Funding and use
the closing agent selected by Seller.
To learn more about the buydown program and to view the
inventory of eligible homes within our Taylor Morrison communities,
visit www.taylormorrison.com/2-1-buydown-program
About Taylor Morrison
Taylor Morrison Home
Corporation (NYSE: TMHC) is a leading national homebuilder and
developer that has been recognized as the 2016, 2017 and 2018
America's Most Trusted® Home Builder by Lifestory
Research. Based in Scottsdale,
Ariz., we operate under two well-established brands, Taylor
Morrison and Darling Homes. We serve a wide array of consumer
groups from coast to coast, including first-time, move-up, luxury,
and 55 plus buyers. In Texas,
Darling Homes builds communities with a focus on individuality and
distinctive detail while delivering on the Taylor Morrison standard
of excellence. For more information about Taylor Morrison and
Darling Homes please visit www.taylormorrison.com or
www.darlinghomes.com.
Contact:
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Alice
Giedraitis
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Director, Corporate
Communications
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Taylor
Morrison
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Office: (480)
840-8137
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agiedraitis@taylormorrison.com
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SOURCE Taylor Morrison