Same payment, brand-new home: a 5-bedroom Madison closing with 4.5% locked for 30 years
These buyers and I had been talking for years. When they finally reached out, it was about a specific house they wanted to see.
My first question is always the same: what monthly payment do you want to be in? Their answer changed the picture. That house was priced about $80,000 lower, but it needed a good amount of repairs and more money out of pocket at closing. In that same payment range, they could have a brand-new home with warranties, everything new, and no closing costs.
So I ran the numbers on what their budget could get them, matched them to the size, beds, baths and area they wanted, and pinpointed the homes that fit. Because I work closely with local builders, I know the incentives and best deals out there, including some that aren't publicly advertised.
We landed on a brand-new 5-bed, 3-bath, 2,360 sq ft home in Madison for $319,980, with no closing costs and a builder-funded permanent buydown at 4.5% (5.202% APR) for all thirty years: $2,056.07 a month with taxes and insurance included. Smooth from contract to close.
Thank you for trusting me to lead you through one of the biggest financial decisions of your life. I'll always take care of you, and you can count on me to put you in your best position.
Thinking about a new home in Madison? Start at the affordability page, then text me at (256) 222-5828 and let's go find your deal.
The deal, by the numbers
| Rate | Monthly payment | |
|---|---|---|
| Years 1–30 | 4.5% (5.202% APR) | $2,056.07 |
Price $319,980 · 5 bed / 3 bath · 2,360 sq ft · no closing costs · permanent rate buydown · new-home warranties
Actual client-specific closed transaction in Madison, AL 35756. FHA financing with 3.5% down through Lennar Mortgage using a seller-funded permanent rate buydown. Payments shown are based on final lender figures and include [P&I, mortgage insurance/funding fee if applicable, estimated property taxes and homeowners insurance]; [HOA excluded]. Client-specific result; terms are not represented as currently available to other buyers.
More about buying in Madison · new construction in Huntsville · more client closings
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