4% INTEREST RATE
Let’s explore this offer’s details and see if it’s a good fit for you!
With a 4% interest rate, Sterling Homes Calgary Exclusive offer can help you achieve your dream of becoming a homeowner. There are advantages to this offer, but you might be wondering: Is this the right option for me?
Overview: Benefits
- Pass a lesser stress test to qualify for a bigger purchase amount. This enables candidates who couldn’t qualify with their existing bank to do so (i.e. Qualify for $100k more with the same income)
- To meet a given price point for affordability, the applicant can qualify with a lower household income (i.e. They can qualify for the same house with a $20k lower income)
- Lower payments for the first six months offer advantages for savings on up-front costs (ie. Save $4000 in first six months with lower interest rate payments)
![AMBLETON SHOWHOME SHOOT TWO FINALS](https://sterlingcalgary.com/wp-content/uploads/ambletonfinal-23.jpg)
Who would benefit from this offer?
If you fit into one of these groups, this might be the ideal time for you to realize your dream of becoming a homeowner:
- Those who can’t qualify because their income isn’t high enough
- Those who wish to receive approval for a larger sum/price
- Those looking to save money up front
Comparing Payment Disparities & Qualifying Rates:
As mentioned above, the monthly savings as well as the payments based on a 4% mortgage rate as opposed to a 5.15% mortgage rate. As you can see, there is a sizeable monthly savings; however, it’s crucial to remember that the 4% interest rate is only for a 6-month term. Continue reading to see the fine print.
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Scenario 1: You’re unable to qualify due to insufficient income.
As you can see, qualifying at 4% interest reduces both your necessary income and monthly payment.