Our “10k Your Way” Incentive! | Sego Homes
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Our “10k Your Way” Incentive!

Stunning interior kitchen by Sego Homes

At Sego Homes, we never want our homebuyers to compromise. This is why our homes offer healthy living, total comfort, and brand new everything! With a wide variety of homes, there’s something to fit every lifestyle. And for a limited time, buyers can take advantage of our exclusive $10k Your Way promotion. 


Sego Homes’ 10k Your Way Promotion


So, what’s the deal with our $10k Your Way promo? We got together with our Preferred Lender, First Colony Mortgage, to create a flexible and unique incentive that will make buying a new Sego home even more exciting. 


There are FIVE options for using the $10,000. Let’s get into them: 


1. A Rate Buydown. Sego Homes will pay to buy down the interest rate for the term of the loan. Simple but with a long-term benefit. 


2. A 2-1 Rate Buydown. This mortgage allows for a lower payment for the first two years of the loan.  A great option for anyone who wants a lower payment at the beginning of their mortgage.


3. Closing Costs. Buyers get $10,000 cash to use towards home closing costs.  That’s less cash out of your pocket at closing.


4. 3 Years of HOA Dues. Sego Homes will pay the HOA dues for three years, lowering the monthly budget. In the meantime, buyers get to enjoy all of the Daybreak amenities. 


5. A Hot Tub. Our homes are known for their rooftop decks with incredible views. Sego Homes will pay for a roof deck hot tub for you to enjoy for years to come.

Everyone’s needs are a little different. Let us know how we can help you, and just think of what you can do with those savings! 


What Are Rate Buydowns?


When comparing different mortgages, one of the most important variables to consider is the interest rate. Over a 30-year mortgage, a single percentage point change in the interest rate could cost or save thousands of dollars.


Many people assume that whatever interest rate a lender offers is the one they have to accept. However, there are a few instances when the borrower can readjust their interest rate – especially in the earlier years of the mortgage loan.


One way to modify your mortgage interest rate is through the use of a mortgage rate buydown. A rate buydown is a way for the borrower to obtain a lower interest rate by paying a lump sum of money at closing, and then save money each month via a lower mortgage payment. 


Discount points, also referred to as mortgage points, are a one-time fee paid upfront that lowers the interest rate for the loan term. The cost of a mortgage point is based on the size of your mortgage loan, with one point representing 1% of your mortgage


An alternate form of the buydown uses the points to reduce the interest rate for the first few years of the loan (as in a 2-1 Buydown); the rate eventually increases. The buydown makes the borrower’s monthly mortgage payments more affordable during this time frame. Borrowers can choose buydown plans with rates up to 3% lower than current mortgage rates. For example, if market rates are 5%, a 2-1 buydown would allow you to make payments on an initial rate of 3% for the first year. 


The rate goes up each year based on the plan chosen. Rates typically rise by 1% per year for the remainder of the buydown plan. In the 2-1 example, the rate in the second year would rise to 4%. The final rate is fixed for the remaining loan term. In the example above, after the third year, the rate would return to the original market rate of 5%, where it would remain until the loan is paid off.


A mortgage interest rate buydown can be a useful way to protect against rate hikes. It enables homebuyers to lower their monthly payments either permanently or during the first few years of the loan. By paying discount points at closing, buyers can reduce their interest rates, which can lead to long-term savings. Bonus: If you meet the qualifications set by the IRS, you can deduct the cost of your buydown on your tax return, either in full the year you buy them or over the life of the loan.


Sego Homes Is Here to Assist In Your New Home Purchase!


Do not settle! This is a great time to buy. We want you to find the Sego home you want and deserve. 

If you are looking for a new home near South Jordan, UT, take a look at our communities and floor plans in Daybreak. When you are ready to make your move, or if you have questions, get in touch with one of our New Home Consultants!


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