New and potential homebuyers have a lot to consider when purchasing a new home. Not only do you have to find the home that suits your lifestyle, but if you’re using certain financing options, there are lots of outside factors that could affect your qualifying amount. At Stanley Martin, we want you to focus on the exciting possibilities of buying a new home—not what might happen if interest rates rise or the market shifts. To help you buy confidently in the current housing market, we have introduced new programs: SMart Selected Homes, SMart Pricing and new financing options.
Typical build times were extended in the past few years due to supply-chain constraints. It took longer to get certain materials causing delays in the building process. Stanley Martin's SMart Selected Homes is an excellent solution for overcoming supply chain issues, providing new homes with shorter wait times. We've been able to reduce the building timeline by having our team of home building and design experts preselect top features and finishes. They carefully curate a variety of home types and on-trend design features so you can be sure to find a home that suits your needs. Because of this jumpstart in the building process, we can manage the supply chain better so you can move in sooner.
Knowing how much your new home will cost is essential in the home financing process. The home's price determines your monthly payment and possible closing cost amounts. SMart Pricing provides transparent pricing to make it easier for financial planning. We advertise the pricing for each of our SMart Selected Homes. The price includes any lot premiums and design options already selected, so you know exactly how much the home costs. And because building timelines are more predictable, there are no worries of an increase in the home's price once you've signed your contract.
Homebuyers have been feeling a little nervous about buying a new home with the rise in interest rates. To help ease those nerves, our mortgage partner, First Heritage Mortgage, is offering an extended rate lock program. The program allows you to lock in your mortgage interest rate for up to 350 days and is available for a variety of loan types*. A rate lock will provide security and peace of mind when deciding whether or not to move forward with a purchase before rates begin climbing again. Stanley Martin is also providing closing cost incentives for buyers who use First Heritage Mortgage in select neighborhoods. You can use these incentives to help lower out-of-pocket costs or buy down mortgage points to reduce your interest rate.
Stanley Martin is constantly adapting to the housing market to make sure our customers are able to buy a home that they love at a price they can afford. We have a wide variety of neighborhoods and available homes, and with these new programs, you can feel confident in buying a new Stanley Martin home. Contact us today to get started.
*Lock periods vary by loan type and program. Not all loan programs offer Extended Rate Locks. Upfront fees may be required depending on the loan program.