Builders are giving 2.99% MORTGAGE RATES.

Home builders on the west side of Phoenix are starting to get desperate.

They're now offering ultra-low 3% mortgage rates to attract buyers. However, there's a catch - the rate will jump up ton 6% by the fourth year of the loan. A situation that could cause problems for buyers who get used to the low payments in the first year or two of the mortgage.

Moreover - the builder here in Phoenix is developing in a zip code where home prices crashed by 63% in the last housing downturn. And while I don't think that type of decline will happen again, buying in this type of volatile area could be risky for buyers. Especially those who use a low downpayment mortgage.

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Видео Builders are giving 2.99% MORTGAGE RATES. канала Reventure Consulting