Low Interest Rates are Even Lower

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What do the low interest rates mean for your house payment? A lower house payment, of course!  Now is one of the best times to buy a new home so you can take advantage of the low interest rates…and lower monthly house payments…than ever before.

How Does This Translate to a Lower House Payment?

It was very common recently to get a FHA mortgage loan at a 4.5% interest rate. Now, that same loan is available for 3 7/8%. We anticipate rates will stay at this lower amount pretty steadily for the next few months. In the end, this equals a lower payment for you.

For example, if you had a loan on a $150,000 home when interest rates were at 4.5%, the house payment would have been about $1,252 a month. But, if the interest rate goes to the lower rate of 3 7/8% the monthly payment will drop to $1, 098.  That’s a $154 difference. That’s money you can keep in your pocket each month instead of putting it in a house payment. You can re-invest back in your home, save for your  next vacation, or whatever you want, it’s yours!

House Payments of Yesterday and Today

Two years ago, interest rates were around 6.5% and 6.75%. Since the housing market has taken a hit in the last few years, a home that was worth $175,000 is now worth about $150,000. This drop has a dramatic effect on your monthly payment, as well. Instead of the $1,694 monthly house payment of a couple of years ago, it would now be $1,198 a month. That is a $498 a month difference! That is substantial savings!

Homeownership has never made more sense than it does today. Interest rates are still extremely low land going lower. Rent rates are increasing. Building a custom built Charleston Homes home has never been easier or cheaper than it is today. Not sure what you want? Check out our model homes and see all the different styles we offer. We’re sure you’ll find something you love!

Close in 60 Days or Less: The “Color” Stage

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Celebrity Homes offers homes in all different stages of construction. This unique feature allows our customers to purchase a home in less time than if just starting from scratch. This is just one more feature Celebrity Homes has to make your buying experience easier and better.

Why Is Having Homes at Different Stages of Construction Good?

We know not everyone has the time to wait the full time to build a home. That’s why we’ve made it easy by having homes in different stages so the home building process and closing time is sped up for you.

For example, one home might be at the “lot stage” and you will wait 6 months until that home is ready to close. On the other hand, another home might be at “basement stage” and take 4 months to close.

If the home is already to the framing stage and other more advanced stages of building, closing time is moved up even more. That means you can move into your house much quicker than starting from scratch.

The “Color Stage” Makes Move-In Time Even Quicker

If you want to move into your home relatively quickly but still want a lot of control over the aesthetics of the home, the “color stage” is just what you need.

This stage allows you to make your selection for carpets, linoleum, countertops, trim, fireplace finish, and even cabinets.  You also get to pick out your appliances.

The closing time on a house at “the color stage” stage is around 45 – 60 days. That’s considerably less than the six months or more it can take if you start at the lot stage. It gets you into your home quick and still gives you as much control as you want over the look of your new home.