Closing Costs
At closing, Seller and Lender agree to apply a combined credit up to 2% of the loan amount towards closing costs, mortgage Insurance, pre-paids and/or discount points. For eligibility, Qualified Buyer must (1) apply and close the loan with a MasterCraft Preferred lender per Contract Terms to qualify for the Promotion; and (2) satisfy all other closing date and eligibility criteria. Seller reserves the right to modify the Promotion’s terms and/or Promotion Period at any time prior to contract. Buyer is not required to finance through Preferred Lender to purchase a home; however, Buyer must use the Preferred Lender to receive the Promotion. Interest rates and available loan products are subject to underwriting, loan qualification, and program guidelines. Buyer may elect to select a loan term, loan program or interest rate that may increase or decrease the Lender’s portion of the closing cost credit. Maximum seller contributions may apply, depending on Mortgage product. Offers may not be redeemed for cash or equivalent. Exclusions and limitations apply; see MasterCraft New Home Consultant for details. Not to be combined with any other incentive offer, except as otherwise expressly set forth in the Purchase Agreement.
Interest Rate Locks
“Interest Rates” are subject to change until locked with a Preferred Lender and are subject to qualification. Rate Locks may require an up front Commitment Fee, which will be outlined by the Preferred Lender(s). Rate lock options may not be extended beyond their original lock term and the term of the rate lock period may vary according to the Mortgage product (unless allowed/approved by lender/Mortgage Product, subject to buyer paying lock extension fee(s)). Seller does not guarantee that construction of the home will be complete prior to the expiration of the Rate Lock, and Buyer assumes any risk associated with locking the rate prior to completion of construction. Contact a Preferred Lender for further details.
12/14/22