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*The payment is based on a $129,990. sales price, a $127,635. mortgage amount and a 3.5% down payment with a 30 year FHA fixed rate mortgage with a 2-1 temporary buydown. In the first year, the interest rate is 3.25% and the principal and interest payments are $555.48. In the second year, the interest rate is 4.25% and the principal and interest payments are $627.89. In years 3 through 30, the interest rate is 5.25% and the principal and interest payments are $704.81. Payments do not include taxes, insurance or FHA monthly mortgage insurance so your total payment will be higher. The ANNUAL PERCENTAGE RATE is 5.615%.
Program is available on selected inventory homes only. Buyer must meet all qualification requirements of the program. Payments are based on a minimum 660 credit score. Buyer must make loan application within 48 hours of contract signing and must close within 30 days. Rate is subject to change without notice. Financing is offered through M/I Financial Corp.