Introducing the Perry Homes Lender Incentive Program
We understand that buying a new home can be stressful and expensive. Luckily, the Perry Homes lender incentive was created to help ease the increased expense. You can use this $21,000 incentive on the following when you use the Perry Team at Veritas Funding to buy your Perry Home:
Closing Costs
This incentive can go towards covering closing costs, which are typically about 3-5% of your loan amount and are usually paid at closing.
Permanent Rate Buydown
Better known as paying discount points, you can use the incentive to cover the discount point cost to obtain a permanently lower interest rate for the term of your loan.
3/2/1 Buydown
In a 3/2/1 temporary buydown, the rate is buydown for the first three years of the mortgage loan. For example , if a the note rate is 6.5%, then the rate is reduced to 3.5% for the first year, then 4.5% for the second year, then 5.5% for the second year and then remains at the note rate for the remaining life of the loan (years 4-30 rate increase to the original note rate).
3/2/1 Buydown Example: