Richmond American Homes and HomeAmerican Mortgage Corporation, subsidiaries of M.D.C. Holdings, Inc. (NYSE: MDC), have launched the Time to Lock Event, a multi-state sales promotion designed to help prospective home buyers facing rising mortgage rates.
For a limited time, HomeAmerican Mortgage is offering extended rate lock programs for up to 350 days—with a one-time option to re-lock the rate within 60 days of closing if interest rates decrease during the rate-lock period—on fixed-rate loans for Richmond American homes that contract by the end of March.
HomeAmerican is not charging a lock-in fee for this extended rate lock. This offer, valid on loan amounts up to $453,100, could be an option for home buyers who want to build a home from the ground up.
For buyers who want to move sooner, the Richmond American companies are also promoting quick move-in homes in several markets. Buyers can work with loan officers from HomeAmerican Mortgage to secure today’s rates.
