Negotiate Price or Interest Rate on Your New Home Purchase?

Which will save you the most money?
#meritagehomesgreenville #iworkformeritage #lifebuiltbetter
Important terms and conditions apply.
Promotion based on standard price for home with included options prior to promotion reduction and does not constitute at guaranty or representation of value. Promotion incentive valid only in connection with the new home purchase agreements for select quick move-in homes in Meritage Homes communities in the Greenville, South Carolina area that are entered into by buyer and accepted by Meritage Homes between March 1, 2023 - March 31, 2023. Promotion shall be void and will not be honored if the home closing does not occur on or prior to April 30, 2023. Promotion not valid on contract re-writes, transfers, or for buyers who have had a previous contract with Meritage Homes cancelled for any reason. All promotion incentives applicable solely upon closing and buyer’s compliance with all terms and conditions of qualifying contract. Any financing arrangement shall be solely between buyer and buyer’s lender (whether or not buyer uses Meritage’s preferred lender), and in no event shall Meritage Homes have any responsibility, obligation, or liability with respect thereto. Promotion subject to any applicable governmental and lender restrictions, and will be reduced or withdrawn to the extent required by such restrictions. Promotion void where prohibited by law and shall be limited in all events to the specific terms set forth in the binding contract for the specific home. Meritage Homes reserves the right to cancel or change this promotion at any time, without prior notice or obligation. Promotion and all incentives available solely in connection with the purchase on select quick move-in homes (see a Meritage sales counselor for information about qualifying homes) that meet all of the following qualifications: (a) the new home purchase agreement for such home is entered into by buyer and accepted by Meritage Homes communities through the Greenville, South Carolina Area between March 1, 2023 - March 31, 2023; and (b) the home purchase closes in accordance with the terms thereof. Buyer will receive (a) Blinds with each home sold and (b) Lender incentives of up to $15,000.00 or (c) receive rates as low as 5.25%. The aggregate total of all credits and incentives provided by Meritage and/or MTH Mortgage in connection with this promotion or otherwise associated with the purchase of the home that require a qualifying loan from MTH Mortgage to finance the home shall in no event exceed the sum of three percent (3%) of the base price of the home plus any lot/unit premium, and if, for any reason whatsoever, the aggregate of such credits and incentives exceeds such amount, then such credits and incentives will be reduced automatically so that the aggregate of such credits and incentives is equal to three percent (3%) of the base price of the home plus any lot/unit premium. Promotion cannot be combined with any other promotion or incentive. Pictures and other promotional materials are representative and may depict or contain floor plans, square footages, elevations, options, upgrades, extra design features, decorations, floor coverings, decorative light fixtures, custom paint and wall coverings, window treatments, landscaping, pool, spa, sound and alarm systems, furnishings, appliances, and other designer/decorator features and amenities that are not included as part of the home and/or may not be available in all communities. Visit www.meritagehomes.com/featuredescriptions for information and disclaimers and associated claims Actual features and selected upgrades included in any home are limited in all events to the specific terms set forth in the contract for such home. Home, pricing and community information is subject to change, and homes to prior sale, at any time without notice or obligation. Not an offer or solicitation to sell real property. Offers to sell real property may only be made and accepted at the sales center for individual Meritage Homes communities. See sales associate for details.

[@sal5440]

Negotiating an interest rate isn't easy at all, the majority of lenders are going to tell you that the interest rate is not set by them and it's true. Also I wouldn't just talk to who the builder likes for financing, look around and find a lender YOU like. The builder is getting a check and leaving, you're the one dealing with the contract and loan on that home.

[@RenaldotheRealtor]

I agree that it isn't easy, and it's worth doing. The lenders don't set the interest rates but they do decide if they want to pay for some or all of your discount points for buying the rate down. Typically the Capital Markets department will decide how much profit/loss they want to take on a specific loan. For builders who have an ownership stake in the lender (like MTH Mortgage with Meritage Homes) making less profit on the loan isn't as big of a deal as it would be to an outside lender. That is because the builder will make money on the sale of the home which can offset the lending side of the business.
Meritage Homes and a lot of other builders are currently offering to pay $15,000 of buyers' loan fees when they purchase a home from them. They are also offering an option which can buy the rate down to the low 5% range if terms and conditions are met (details linked in the description). While you can shop around and use whichever lender you want, it's difficult for an outside lender to compete with in-house incentives. Definitely shop around though, just keep this advice in mind.

[@adamhudson9853]

Promo_SM 😠

[@RenaldotheRealtor]

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