*Based on a sales price of $200,000, first mortgage of $193,000, 30-year fixed rate loan with a temporary interest subsidy for the first two years and down payment of 3.5%. Note Rate of 4.75% (APR 5.15%) First and second year principal and interest (P&I) payment =$909.45 based on an interest rate of 3.75%. Years 3-30 P&I payment based on an interest rate of 4.75%=$1024.40. Available only for accepted purchase agreements on Move-In Ready homes written 2/10/10 through 2/15/10 and must close on the purchase by 3/31/2010. Down payments of less than 20% down will require mortgage insurance (included in APR above). The advertised interest rate is subject to change and may not be available at the time of the loan commitment or lock in. Applicants must meet all requirements for Ryland Mortgage Company loan program qualifications which includes a minimum credit score of 620 and obtain unconditional loan approval from Ryland Mortgage Company. See Sales Representative for further details.
**First-time home buyers or buyers who haven't owned a home in the past three years may be eligible to receive a tax credit equal to ten percent of the home's purchase price up to a maximum of $8,000. Home owners who have lived in their home for at least five years may qualify for a tax credit of $6,500. Tax credits apply to single taxpayers with incomes under $125,000 and couples with incomes under $225,000. If income exceeds these levels, a homebuyer may be eligible for a partial tax credit. The tax credit only applies to purchases with contracts written by April 30th 2010 that close on or before June 30th 2010. Some tax credit restrictions apply. The new tax credit does not have to be repaid if you keep your home for three years. The information provided is a summary only and does not constitute legal or tax advice. See your tax professional for details. For more information visit http://www.federalhousingtaxcredit.com.
+This is solely a summary. The actual terms conditions and limitations of the mortgage payment protection program are established by the insuring documents. The mortgage payment protection program is underwritten by a third party insurance company. The mortgage payment protection program contains limitations, restrictions and exclusions which are contained in the insuring documents. Inquiries regarding specific questions should be directed to Mortgage Payment Protection at (866)-JOB-LOSS (562-5677) Ryland Homes, its subsidiaries and affiliates and their personnel make no representation or warranty concerning the mortgage payment protection program, the program administrator or the insurance company. Ryland Homes, its subsidiaries and affiliates are not affiliated with the insurer, program administrator or agents of the MortgageGuardianTM program.
Incentives and promotions are available on applicable homes with contracts written between February 10th, 2010 and February 15th, 2010 only. To receive incentives and promotions, buyer must obtain mortgage loan from Ryland Mortgage Company and close with Ryland Title Company. Buyer may finance via any other qualified lender, but will not be eligible for any Ryland incentive offer. Ryland Mortgage Company is an Illinois Residential Mortgage Licensee, 1141 E. Main St., Suite 108, East Dundee, IL 60118. License # MB.0004009. © 2010 The Ryland Group, Inc.
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