Keller Williams Greater Seattle, Ben Kakimoto, Seattle Condo Agent

Parc interest rate buy-down promotion

The Parc condominium in Belltown is currently offering a pretty good rate buy-down promotion on their remaining homes. Based on the rate info they provided, the 2/1 buy-down can lower the rate down to 2.875% for the first year, then 3.875% the second year, finally locking in at 4.875% for the remaining loan term (30 year fixed).

The promotion runs for a limited time but is available to any of the remaining 20 homes that’s under contract by February 28, 2009. The buy-down rate, which is subject to change, is based on a 30 year fix loan with 10% down payment through their preferred lender, Countrywide. It does not apply to re-sale properties.

As an example, the Parc currently has a 1,237 square foot 2-bedroom unit available for $429,000. With the rate buy-down the first year’s payment would be around $1,600, excluding PMI and taxes.

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About the Author

About the Author: Ben Kakimoto is a Seattle condo and urban real estate marketing & listing specialist. Contact Ben to learn more about the Seattle condo and loft real estate market or about buying or selling a Seattle area condo. Find Ben on Google+, Twitter and Facebook. .

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