“Interest rates are still very competitive and probably will remain so the rest of the year,” says the Wiseman-Hughes director of sales and mortgage services. “We’re experiencing slight changes in the mortgage market, but rates are still at historic lows.”

Wiseman-Hughes recommends working with one of the company’s builder-approved lenders, who have several programs to make the financing process very easy.

So now is the time to make your move; working with a group of preferred lenders, Wiseman-Hughes has several programs that can help. Rate cap programs ensure that if interest rates go up while your home is being built -- usually at least six months -- your rate will remain the same.

But if rates dip, you can take advantage of the lower rate prior to closing. So it’s the best of both worlds: protection against possible rate hikes during construction without giving up the prospect of interest rate decreases.

“These programs eliminate one common fear of buying new construction -- that interest rates will zoom up while the house is being built,” Shuman said.

“At the same time, the construction period gives owners of existing homes plenty of time to sell, so they don’t have to worry about making payments on two houses at the same time.”

Another program enables buyers to use 95 percent of the equity in their existing house as earnest money to
buy a Wiseman-Hughes home. Developers typically require approximately $10,000 to $15,000 before construction, depending on whether the buyer uses a builder-approved lender.

“With the equity advance program, you don’t have to pay earnest money out of pocket,” Shuman said. “That’s important when you’re getting ready to move.”

“Working with our lenders, we like to think of as many
ways as possible to help people buy Wiseman-Hughes homes.”