4.99 Mortgage
More Home. Lower Monthly Payment.
Mayfair Communities is offering qualified buyers a 4.99% fixed interest rate on a 30-year mortgage when purchasing an eligible home at Rendezvous.* Our lower rate makes your new home more affordable.
What Is an Interest Rate Buydown?
An interest rate buydown is a financing incentive that lowers your mortgage rate. The builder and its preferred lender help qualified buyers receive a lower interest rate than may otherwise be available. In turn, the homeowner receives the benefit of a lower mortgage rate and lower monthly payment.
How Our Lower Rate Makes a Difference
A lower mortgage rate helps you:
- Lower your monthly principal-and-interest payment
- Make homeownership more affordable
- Pay less interest over the life of your loan
- Increase your purchasing power
- Enjoy the stability of a predictable fixed payment
Buydown FAQ
What is the 4.99% buydown?
The 4.99% buydown is a financing incentive that may allow qualified buyers to receive a 4.99% fixed interest rate on a 30-year mortgage when purchasing an eligible home at Rendezvous.
Is 4.99% a temporary introductory rate?
No. This is a permanent rate buydown. If you qualify and close under the program terms, your interest rate remains fixed at 4.99% for the full 30-year loan term.*
Can the interest rate increase later?
No. A fixed-rate mortgage does not change during the loan term. Your principal-and-interest payment will remain predictable, although your total monthly payment may also include taxes, insurance, HOA dues, mortgage insurance, and other costs that may change over time.
How much can I save with the buydown?
Your potential savings depend on your loan amount, down payment, credit profile, loan type, and the interest rate available without the incentive. A lower rate may reduce your monthly principal-and-interest payment and the total interest paid over the life of the loan. Our preferred lender can provide a personalized comparison based on your specific circumstances.
Does the 4.99% rate apply to every home?
No. The offer is available only on eligible homes and may be subject to availability, community restrictions, purchase deadlines, loan terms, and other requirements. Ask the sales team which homes qualify.
Do I have to use the preferred lender?
Yes. Using another lender may mean that you are not eligible for the 4.99% rate or other promotional benefits. Confirm the requirements with the sales team.
What loan types are eligible?
Eligible loan types may vary. The program may be subject to specific loan products, minimum down-payment requirements, credit qualifications, loan limits, and other lender guidelines. The preferred lender can explain which options may be available to you.
Is a down payment required?
Yes. Minimum down-payment requirements apply, and the amount may vary based on the loan program and your financial qualifications.
How do I find out whether I qualify?
Start by contacting the sales team and preferred lender. The lender can review your financial information, explain available loan options, estimate your payment, and confirm whether you meet the program requirements.
*Offer is subject to availability, loan qualification, eligible homes, minimum down-payment requirements, preferred-lender terms, and other restrictions. Taxes, insurance, HOA dues, and other costs are not included in the principal-and-interest payment. Rates and incentives are subject to change or withdrawal without notice. This is not a commitment to lend.
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Monthly P&I Payment Comparison 30-Year Fixed
How Interest Rates Affect Your Budget
*Disclosure: Results are hypothetical and may not be accurate. This is not a commitment to lend nor a preapproval. Consult a financial professional for full details. Payment example: If you bought a $450,000 home with a 20% down payment, for a loan amount of $360,000, with a 30 year term at a fixed rate of 6.125% (Annual Percentage Rate 6.220%), you would make 360 payments of $2,189.00. Payment stated does not include taxes and insurance, which will result in a higher payment.
