If you're a builder who wants to get your phones ringing, try this trick: flaunt a mortgage rate beginning with '2'.
And then brace for the hefty buydown.
For brokers or retail mortgage reps, this strategy typically isn't possible. For developers clearing tens or hundreds of thousands of dollars per unit, however, it is.
And this is precisely what more builders across the country are doing this very minute. We profiled one of them, VLS Developments, to find out what's behind its offer.
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