Are there incentives available for new homebuyers?
Renaissance Pointe has many attractive financial incentives for new homebuyers. Two local banks, National City Bank and Fifth Third Bank, are offering unique 30-year fixed-rate mortgages with interest rates which can be discounted by up to 1.5% below conventional loan rates, pending the buyer’s financial capacity. Downpayment assistance grants of $15,000 are available for buyers earning at or below 80 percent of the City’s median income, and grants of $5,000 are available for market rate homebuyers in 2008. Homebuyers will also receive a five-year property tax abatement. All of these incentives help to build equity and lower monthly payments. Simply put, homebuyers will not find incentives like this anywhere else in Fort Wayne.
