3 – 2 – 1: The countdown to home has begun! It’s the perfect time to turn your dream of homeownership into reality. For a limited time, our preferred lender BRP Home Mortgage is offering a 3-2-1 buydown* available on select homes. Lower rates and lower monthly payments add up to one incredible reason to buy a Brookfield Residential home.

At Brookfield Residential, our success is grounded in one thing: giving people the best place to call home. We’re committed to serving our customers from day one in their new home journey and beyond. After all, there are few things more exciting than buying a new home and we’re here to ensure you have the tools and resources to make it a smooth process.

What is a 3-2-1 interest rate buydown?

A 3-2-1 interest rate buydown is a type of mortgage that charges lower interest rates for the first three years in return for an up-front payment made by Brookfield Residential to BRP Home Mortgage on your behalf.

In the first year, the interest rate is 3% less than current rates; in the second year, it’s 2% less; and in the third year, it’s 1% less. After the buydown period ends, it returns to the full interest rate for the remainder of the mortgage.

By taking advantage of this promotion, your interest rates would be:

Year 1: 4.500%

Year 2: 5.500%

Year 3: 6.500%

Year 4 – 30: 7.500%

What are the benefits of a 3-2-1 buydown mortgage?

Essentially, Brookfield Residential is helping to pay part of your mortgage for the first three years, reducing the overall cost to you. This means you’ll have lower monthly payments which allows you to set aside money for other expenses. You’ll have a great head start on your future by easing into your long-term monthly mortgage payment, especially if you anticipate your income increasing over the next three years.

Where is the 3-2-1 buydown promotion offered?

The 3-2-1 buydown promotion is being offered US-wide on select homes in certain Brookfield Residential communities. We invite you to connect with our sales team for more information on the qualifying homes and neighborhoods.

Where can I get more information on the 3-2-1 buydown promotion?

Our partners at BRP Home Mortgage are ready to answer any questions you may have! Check out their website or email info@brphomemortgage.com for assistance.

We know the homebuying process can come with a lot of questions, but we’re with you every step of the way! Visit the BRP Home Mortgage website and explore helpful mortgage tools including interactive calculators, terminology glossary, and homebuyer tips.

BRP Home Mortgage believes that everyone deserves a simple and straightforward home financing experience, and you can rest assured that they will expertly guide you on a path to homeownership to create the best place to call home.

*This is not an offer to lend. Rates are effective 4/22/24 and are based on a 30-day rate lock for Conventional 30 Year Fixed 3/2/1 Buydown financing. Loan scenario assumes a $550,000 purchase price, loan amount of $495,000 and $55,000 (10%) down payment on a Conventional 30 Year Fixed 3/2/1 Buydown with 740 credit score. Rate of 7.5% (7.691% APR) is fixed for entire 30 year term, but initial payments are reduced based on the buydown benefit. Buydown benefit for Year 1 is 3%, Year 2 is 2%, Year 3 is 1% and Years 4-30 are no longer discounted. First year initial interest rate is 4.5% (7.691% APR), 12 monthly P&I payments of $2,607.09. Second year interest rate is 5.5%, 12 monthly PI payments of $2,909.56. Third year interest rate is 6.5%, 12 monthly P&I payments of $3,227.74. Starting in the fourth year, interest rates are fixed at 7.5%, 324 monthly P&I payments of $3,560.11 (this excludes taxes, insurance, HOA and other fees, so actual monthly payment obligation may be greater). Rates, terms, and availability of programs are subject to change without notice. Additional terms may apply. Must get pre-qualified for a new purchase through BRP Home Mortgage, LLC. Not all applicants will qualify. Available on select homesites only. May not be available at time of loan commitment or closing. Services not available in all states. BRP Home Mortgage, LLC, NMLS #2044252,4800 N. Scottsdale Road, Suite 3800, Scottsdale, AZ 85251. For information of our company’s mortgage licensing, go to www.nmlsconsumeraccess.org [nmlsconsumeraccess.org]. Equal Housing Opportunity Lender. All loans subject to underwriter approval. 

**Free refinance is non-transferable and does not apply to loans obtained to purchase a new property or new loans that result in the creation of a separate lien on the current property. Fees included are the lender fees and does not include taxes, title, insurance, title fees and recording fees. Homes shown do not represent actual homesites for sale. Copyright © 2024 Brookfield Residential ULC. All rights reserved.