Mortgage Rates at Low for 2011

Bailey EstatesMortgage rates are probably the lowest they’ll get in 2011. You can find an interest rate on a 30-year fixed rate loan for as low as 4.5 percent. With this and the fact that builders are offering some fabulous discounts, now is the time to look into the purchase of new McHenry County real estate.

Gerstad Builders constructs new homes in McHenry at Liberty Trails, Richmond at Pheasant Ridge, Poplar Grove at Dawson Creek and Williams Bay new homes at Bailey Estates. The McHenry County builder is currently offering a discount of 10 percent off the base price of their homes. Homes must be closed by the end of 2011 to qualify for this discount and are limited to the first 10 homes purchased.

With rates as low as they are, there are also some very interesting programs available. One is a 30-year fixed at 4.5 percent with the lending institution paying 1 percent for the 1st year. This means that you can have a NEW home for a rate of 3.5 percent, something that was unheard of just a few months ago. There is also a FHA program that will allow you to pay only principle, taxes and insurance for the first 6 months. These programs are available to qualified borrowers through lenders recommended by Gerstad Builders. Please call 815-385-4495 with any questions regarding different mortgage programs.

For more information about Gerstad Builders or our communities, please visit our website.