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Posted by Melissa Lynn Galland on Mar 25, 2020 9:31:38 AM
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How about some good news in the midst of the most perplexing time many of us have ever encountered? Sadly, we don’t have the cure to COVID-19—but what we do have might be a rare silver lining in the topsy-turvy world of home finance.

Adair Homes has a unique partnership with Alliance Financial. This relationship has allowed thousands of families in the west to build new construction and move into their new homes with equity on day one. By working with Alliance Financial Services, Adair customers are offered a long term interest rate lock plus a one-time FREE float down.

Float Down Interest Rates

Let’s unpack what that means.

In the month of March 2020, mortgage rates fluctuated upwards so quickly that it proved difficult for people to lock in the low rates they had anticipated. “Coronavirus has created an unprecedented situation for the entire rates market,” says Matthew Graham, chief operating officer of Mortgage News Daily. Even as the Feds pledge help to the mortgage-backed securities market, many uneasy investors are keeping their money liquid and refusing to invest further. This means that mortgage rates are still hard to predict, and pin down regardless of the Feds commitment to stabilizing the market.

Best advice?

Don’t stop the financing or refinancing process. Best case scenario, you’ve completed your paperwork and you’re ready to lock when the rates are right. But even if they don’t look good today, Adair clients, and by virtue, Alliance Financial customers, have a leg-up on the competition. 

When your Adair home is complete, you can move in with confidence. Your loan can be reevaluated at that time, and if the market is offering lower interest rates, Alliance Financial will float down your interest rate to the lower market rate—with no additional cost.

Where other financial lending institutions typically charge a fee between .5% and 1% of the loan amount, Alliance charges nothing to their clients for such a rate adjustment. We repeat: nothing. There is no credit or income qualification attached to this service, no additional credit check to contend with. Alliance has your back. 

We realize that these are unprecedented times where we have no parallel history from which to cull wisdom. But what we do have is good sense, and a commitment to our customers. Adair stands behind our shared values of integrity, honesty, and respect—especially in the tough times.

Getting Started

What's the next step?

Our Pro Team is here for you and ready to answer all of your questions about how a float down rate works on a construction loan. Schedule a personal consultation in our Design Center or virtually from the comfort of your home.

About Adair Homes

Adair Homes has been building dream homes across the country for the last 50 years. In that time, we’ve helped more than 20,000 families achieve their dream of home ownership, and we take pride in making sure our customers find the perfect home that not only fits their lifestyle but also fits their budget.