Las Vegas New Home Incentives
Some of the Las Vegas new home developments around the Valley are offering incredible buyer incentives in both upgrades and financing options. Many projects do have standing inventory and/or homes that will be move in ready within 30 to 90 days. Often the builders will let us know about upcoming incentives before the details are released to the general public.These incentives may change daily, so call us at 702-985-7654 to find out the latest details.
As experienced new home agents, we may even be able to negotiate a reduction in the sales price for you with some of our preferred builders. Our team is committed to finding our clients every discount possible on their new Las Vegas home purchases.
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Getting the Most from New Home Incentives
Builders nationwide are currently offering incentive packages that may vary widely - from as little as $1,000 towards closing costs, to $10,000 in upgrade options, or all the way up to as much as $75,000 off the sales price. So now is a great time to strike a deal on a new home for both investors and primary home owners. But the deal often comes with a string attached – you must use the builder’s preferred lender, and you will probably find that you could easily do better going to another lender with lower interest rates and terms. Over the long term, higher interest rates and closing costs can negate much of any incentive received.
But for those that are savvy, there is still a way to take advantage of the builder incentives being offered without sacrificing on interest rate and closing costs.
Since you must use the builder’s lender to get the incentive, find out what the interest rate would be for a “no cost” loan - that is a loan where the interest rate is high enough that the builder’s lender can cover the closing costs entirely with no out of pocket expense to you. This type of loan will typically range from 1% to 2% higher than the going rate. Make sure that the loan being offered has no pre-payment penalty. Then negotiate with the builder to give you the mortgage loan costs you would have been paying as either a reduction in sales price or as option money towards upgrades.
As you are qualifying with the builder’s lender, also find an outside lender that can give you the best rate and terms on a refinance and qualify with them at the same time to make sure this approach will work for you. You will be using the money you have saved on the negotiated reduced sales price or upgrade options to pay for the refinance. Then as soon as you have closed on the home with the builder’s lender, consummate the refinance within a few days or weeks with your new lender.
To find out the latest Las Vegas home incentives being offered, just schedule a conference with one of our new home agents. Call us at 702-985-7654, or fill out our simple online contact form below. We look forward to helping you find the perfect property!