Our lender understands that these are times of uncertainty, and our customers might be stressed and hesitant to make purchases right now… They’d like to help!
Introducing our new “Interest-Free for Three” promotion provided you by one of our lenders, who will pay the interest for our customers for three months (for a total of 90 days) on new mortgage applications. Homeowners will only be responsible for making principal payments, providing relief by significantly decreasing their mortgage payment for three months.
Here’s an example of how it works. With a $400,000 mortgage at a 2.19% 5-year fixed rate and 25-year amortization, the regular payments would be: $1,730.70. For the first 90 days of the new mortgage, the lender will cover the interest and you, the customers pocket the difference. Interest portion paid by the lender:
• Month One: $726.69
• Month Two: $724.87
• Month Three: $723.04
Total Savings for the Customer: $2,174.60 *
* For illustration purposes only, based on monthly payments. Rates are subject to change at any time without notice.