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Old 09-21-2008, 09:44 AM
 
Location: Fort Worth
140 posts, read 367,024 times
Reputation: 27

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Meritage pay $4000 with ever deal. But i would check the rates and the Good Faith Est when using there mortgage company. You will always get a higher rate by taking that money. I would get pre-approved with another bank also to make sure you get the best deal. For every point difference in the rate on that pirce home it is 40k over the 30 year note.
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Old 09-21-2008, 10:35 AM
 
29 posts, read 65,012 times
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So I wouldn't need to use them to get the 4K?
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Old 09-21-2008, 12:22 PM
 
Location: Fort Worth
140 posts, read 367,024 times
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Yes you will have to use them to get the 4k, But I would look at the Rate and the Fees & Downpayment. Because some lender might only require 3% down when they might have to have 5% down. Also their rate might be higher inorder for them to pay the 4k. Also they might put in some other junk fee. You can always roll in your closing cost if you have to.

I have a Meritage home that is being builder for one of my client in Euless at Texas Star. We are looking at all these options right now.

Also another way to save some money is high a agent that will help you sell your home at discounted rate. Some Realtors out there offer a move up & save program. What happens is they list your home for 6% but when you close on your new home they will rebate you 2% back. Another way to get some of your closing cost paid. They would have to help you will both side of the sell & buy for this to work.
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Old 09-21-2008, 05:53 PM
 
29 posts, read 65,012 times
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I know they have a program out right now to purchase with zero down...now I don't know what that entails but that's what they have on their website right now. Then they have the 4K in closing costs...so I don't know if they just roll it all in to your loan and say it's zero down. I haven't asked for details.

They have a realtor they deal with for the move up program that does it for 3% and then an extra $495....Since he is referred by the builder...will he be able to negotiate to his fullest extent with the builder without a conflict of interest do you think?

Thanks for the responses, I really appreciate it.
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Old 09-21-2008, 07:08 PM
 
Location: Dallas/Fort Worth, Texas
4,184 posts, read 14,029,755 times
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The program they described to you is one that can be done by most lenders. It basically takes all your closing costs and roll them into the loan. You are ultimately paying for it, just over the term of the loans instead of cash upfront.

The 4K that they offer includes the title policy. I spoke to Rob when I was there earlier today and he confirmed that. There are a lot of upgrades included in their base price such as the granite countertops, their standard HVAC see is 14 instead of 13 that most builders use which is the minimum required by law: Of course if you ask them their upgrade list, it's worth 40K (about 45 items that they consider upgrades that most of us consider a must).

Naima

Last edited by nsumner; 09-21-2008 at 07:09 PM.. Reason: typos
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Old 09-21-2008, 08:54 PM
 
Location: Fort Worth
140 posts, read 367,024 times
Reputation: 27
He is just like any other Realtor, they will not give any one realtor a better deal then the last. He just happens to be the first person to tell them about his program and so the refer people to him/her. Like with the builder Dr Horton, I am one of the approved to do lease buy out. There are only two real estate company that are approved. We where they first to pitch our program.
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