If you’re like most homebuyers in 2024, the question isn’t whether you want to move but whether you can afford it.
With interest rates stuck at higher-than-desirable levels, putting off a new home purchase may seem like the wisest choice, at least in the short term, until rates go down or you find a seller willing to give you credit for an interest rate buydown or lower fixed rate. Either way, the benefits may not be enough for you to make a move.
But with Chesmar Homes designer-curated Move-In Ready Collection and our 2024 no-interest payments for 6 months program, getting into the home you want now is easier than ever.
One more upside to owning a brand-new home
There’s a lot to think about before move-in day—where should we put the furniture, will the kids fight over their bedrooms, and how long will it take to unpack all those boxes? Getting comfortable with a new mortgage payment can also weigh heavy on your mind—it’s an adjustment that takes time to make.
With Chesmar Homes no-interest payments program, home ownership comes with an added layer of peace of mind that makes all the difference.
Think of the savings over a six-month period
Imagine having extra funds to make a new-home purchase possible, and less stressful. You can do it with our no-interest payments loan program.
When you purchase a home from Chesmar’s designer-curated Move-In Ready Collection this year through our preferred lender, the first six months of your mortgage payments will be based on the principal portion of the loan—not the interest. And because the bulk of a new monthly mortgage payment goes toward the interest, that means you’ll enjoy a substantially reduced payment for six months.
Here’s how it works
Because interest rates fluctuate, almost as fickle as the wind blows, pinpointing your monthly loan payment can be difficult because it can change until you “lock it in” with a lender.
To get an idea of how a no-interest payment can impact your life, the chart* below shows the details. If the home purchase price is $450,000, and a buyer provides a 10 percent down payment, the conventional loan amount would be $405,000, to be paid over a 30-year term.
If the interest rate is 7 percent, the following numbers reveal the payment month, the interest amount saved (not paid) and the principal payment amount you would make each month, which would be applied to the loan. This represents $14,145.73 in total savings over a period of six months.
| Month | Interest | Principal |
|---|---|---|
| 1 | $2,362.50 | $331.98 |
| 2 | $2,360.56 | $333.91 |
| 3 | $2,358.62 | $335.86 |
| 4 | $2,356.66 | $337.82 |
| 5 | $2,354.69 | $339.79 |
| 6 | $2,352.70 | $341.77 |
| Total Savings | $14,145.73 |
*Example based on a purchase price of $450,000, 10% Down Payment, $405,000 Loan Amount, 30-year fixed rate FHA or VA mortgage with 7.758% APR. Payments shown reflect principal and interest only. Buyer responsible for monthly escrow payments of the homeowner’s insurance, property taxes and monthly mortgage insurance. Terms and Conditions apply.
Chesmar Homes’ no-interest payments program helps homebuyers like you transition into home ownership, and find balance in your financial footing, which can go a long way for the entire family.
Get started by choosing your Chesmar Homes community
Once you’ve decided to relocate and know a new home is what you’re after, create a wish list filled with the features, amenities, and options you’ll want for your family today, and down the road.
Moms and dads looking to upgrade their home, and families searching for a place with more room to roam (inside and out), appreciate the quality and reliability of Chesmar Homes. Choose from two-to five+-bedroom homes nestled around parks, lakes, pools, trails, recreation and fitness centers, where healthy fun and adventure are always just around the corner.
With 90+ communities in Austin, Dallas, San Antonio, Houston, Central Texas, and surrounding areas, your ideal fit is closer than you think.
The best memories are the ones you’re about to create
Why wait to begin your home ownership journey? Our no-interest payments program runs through August 15, 2024 on select homes across Texas.
Experience the integrity, quality workmanship, and family-first amenities that Chesmar Homes is known for by stopping by to look at our well-appointed model homes, or schedule an appointment with one of our knowledgeable New Home Consultants. You’ll be glad you did.