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Cambria Village is offering below market rates on mortgages as low as 5% or purchase ahome for less than $1000 down including closing costs and down payment
Cambria Village, a new construction community located in Smyrna Delaware, is offering below market rates on 30 year fixed rate and adjustable rate mortgages. Lenape Builders has teamed up with Prosperity Mortgage to offer below market rates to assist you in becoming a home owner. These rates are available for both first time home buyers and current home owners and are on top of other incentives offered by the builder and government assistance for first time buyers (see article above).
For a 30 year 5/1 arm you interest rate is only 5%. This loan has a fixed rate and payment for the first 5 years of the loan and then adjusts annually with a payment, based upon a $179,000 purchase price, of less than $1,175 per month including taxes and insurance. You would be required to have a 3% down payment plus closing costs that may be offset by government assistance.
The second loan is a 30 fixed rate loan with an interest rate of only 5.25% for the life of the loan. This rate will never go up. Using the same $179,000 purchase price the payment will be less than $1200 per month, including taxes and insurance. You would be required to have a 3% down payment plus closing costs that may be offset by government assistance.
Our third option allows you to move into you home with only $1000 total out of pocket. This program uses bond money outlined in the article above. With a purchase price of $179,000 and an interest rate of 6.75% you total payment, including taxes and insurance will be less than $1375. This option is only for purchasers who have not owned a home in the last 3 years.
Rates are subject to change and are based upon rates of 9/10/2008. Please call Henry @ 302 293 9765 for the latest rates and incentives.