No Mortgage payments for the first six months
No Gimmicks, just buy a home and save your money!
Vaild in any of our communinities
May be substituted with up to $6,000 in closing cost assistance
This offer may be used in conjuction with:
Save $10,000 at Village of Kennedyville
Terms and Conditions
This offer is based on a 30-year mortgage and the Buyer using the services of Prosperity Mortgage Construction to Permanent loan program. This program allows for the buyer to save closing cost expenses by combining the lot, construction loan and permanent loan into one settlement. The mortgage program also reduces the overhead cost for JLS Design, ltd & allows us to offer new homes at a reasonable price. Typical settlement fees average $5,000 including, if applicable, funds required to be escrowed for taxes & insurance. The loan settlement occurs at the time of lot purchase. Upon completion of the home construction, the buyer will request to have the loan modified to a permanent mortgage & has the option to adjust the interest to the current rate available.
Buyer must have a minimum 3% down payment & funds for closing, current loan rate of 4.75%; subject to underwriting requirement. Buyer must have a minimum credit score of 620 for FHA loans; minimum credit score of 680 for conventional loans. Buyer will be responsible to pay the interest payments during construction of the home. The buyer will be responsible to pay PMI, taxes and homeowner's insurance payments during the six month time period in which JLS Design, ltd is funding principal & interest payments of the permanent mortgage. JLS Design, ltd will fund escrow account for six months of principal & interest payments at time of loan modification. Permanent loan rate may be locked anytime before completion of home. Standard Construction Loan is rate is current Prime rate. Lender funded mortgage insurance available, mortgage rate would increase minimum .75%, inquire for details. Lender funded insurance allows the buyer to use the mortgage insurance as a tax deduction.
Property and title insurance required. Prosperity Mortgage is an Equal Housing Lender. Please inquire for additional detail information regarding Construction to Permanent Loans. Limited time offer. Offer may be substituted for closing cost assistance or interest rate buy down. JLS Design, ltd reserves the right to determine exact amount based upon contract amount & qualifications of buyer. This offer may not be used in conjunction with any previously advertised offers; it may be used in conjunction with the Federal tax credit for first time home buyers and energy tax credits.
Find your New Home
YOU'RE APPROVED!
Do you have a credit score of 620 or better? Our lender is ready to issue you a mortgage!TODAY'S MORTGAGE RATE
- 4.95% 30 Year Fixed