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What Are Your Options for Financing a Home with Beacon?

Before settling down in a new home, there are a ton of questions running through your mind. If you’ve already chosen a Beacon home in Oklahoma City or Tulsa, you’re ready to move on to the next part of the equation: financing. Allow Beacon Homes to assist you in answering some of the questions you may have about financing a home in Oklahoma.

Home Financing Options with Beacon Homes

There are a variety of home financing options available with your new Beacon home. Depending on your financial situation, you’ll have several different possibilities. Here’s an overview of some great financing options available to Beacon homebuyers. 

What Is A Buydown?

A buydown is a financing option that allows you to obtain a lower interest rate for the first few years of the loan, in return for an extra up-front payment. It is similar to the practice of buying discount points on a mortgage in return for a lower interest rate.

Option #1: 3-2-1 Buydown

Here is how a 3-2-1 buydown works: With a 3-2-1 buydown mortgage, the borrower pays a lower interest rate over the first three years in return for an up-front payment to the lender. The interest rate is reduced by 3% in the first year, 2% in the second year, and 1% in the third year. After the buydown period ends, the lender charges the full interest rate for the remainder of the mortgage.  This is a fixed rate that is secured when you purchase the home.

Our 3-2-1 Buydown financing strategy can bring down your interest rate as low as 3.375% in the first year saving you up to $770.00 per month! 

Option #2: Long-Term Rate Buydown

Here is how a long-term rate buydown works: With a long-term rate buydown, you’re buying a lower rate for the entire term of your loan. The lender offers a lower rate by charging discount points. Typically, the more discounts you pay the more you can reduce your mortgage rate. The rate never increases as long as you keep your loan. The buydown cost is paid at closing. The lender adds the cost of the mortgage rate buydown to your closing costs.

Our Long-Term Rate Buydown increases your buying power now while saving around $90,000 over the life of your loan and an average of $300 every month!

Option #3: $20,000 to use as you choose

Save your cash for Christmas and use up to $20,000 from us and our participating lenders towards lowering your interest rate or closing costs. Or you can apply it toward designer upgrades, a fence, appliances, blinds, or anything you want to make your home move-in ready on day one!

Disclaimer: Savings amount is based on home price, credit score, down payment and other factors. Dollar figures provided are estimates only. This promo applies only to those who use a participating lender.

What Does it Mean to Build with Beacon?

At Beacon Homes, we use a combination of features and products that make our homes smarter, safer and easier to maintain. From an intuitive digital assistant to outlets that can power anything you plug in, your new Beacon home offers you complete control. Smart locks mean the days of your kids forgetting their keys are over. And with a smart doorbell, you can see who – or what – is at the front door 24/7. 

While Beacon homes are modern, highly livable, and stylish, we’re even prouder of what’s behind the walls. We put a lot of thought into how we build our homes, and that means using the best techniques and materials. From the roof to the foundation, our homes are energy efficient and built to last. 

We’ve made thoughtful and eco-friendly choices that give our homes cleaner air, as well as making them healthier and more comfortable. State-of-the-art fresh air systems deliver filtered clean air via MERV filters, fresh air intake, and UV light. This system reduces dust, odors and indoor contaminants for improved indoor air quality, giving you healthier, cleaner air.

The house wrap system air and water barriers help make our homes more durable, comfortable, and energy-efficient. They help extend building life, by resisting moisture and air, and reducing the risk of condensation damage, wood rot or mold growth.

Direct vent fireplaces vent directly to the outside, drawing fresh air in, and expelling gasses out. They allow radiant heat to pass into the room without robbing it of oxygen or heated air, while also keeping it free of fumes and combustible materials such as embers or ash. 

Some paints may emit volatile organic compounds (VOCs) that can serve as an irritant to people with certain allergies. Our homes feature low-VOC paints that help improve indoor air quality.

Contact Us Today for More Info on Our Home Financing Promo!

One of the most intimidating parts of buying a new home is often setting up the financing. Especially if you’ve never done it before. Hopefully, we’ve given you a good foundation for starting the home financing process. 

Even with rates rising, now is still a great time to buy. If a new construction home is what you’re considering, Beacon Homes has homes available throughout Oklahoma City and Tulsa. Connect with us when you’re ready to find your dream home.


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