Financing in Ohio>Question Details

Kim, Home Buyer in Vancouver, WA

Model home offering 4% financing...what if I have my own financing?

Asked by Kim, Vancouver, WA Wed Feb 20, 2008

I am being moved by a relocation company and have financing through them. If I am interested in a new model home that is offering 4% financing and want to use my own financing, how do I calculate how much that low interest is worth to help me negotiate the price of the home?

Thanks!

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I have done this in the past with new home builders. You would want your relocation realtor to contact the builder and ask if they would give a credit for bringing your own financing. I have found in the past depending on the program being offer by the builder it can be 2-3% off the price of the home.

Do not contact the builder. Have your realtor contact them and find out. Without registering your realtor as working with you they will not get paid. It will effect your relocation benefits if you buy without using them.
On relocations both the selling realtor and buying realtor have to pay a referall fee to the relocation company and this is where some of the money to pay benefits comes from.
Web Reference: http://www.Find1Home.com
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