Pratt Homes’ Banting Square offers mortgage-free living for three years
During a time when mortgage lending rules are tighter and interest rates are rising, Pratt Homes is doing something unique for potential purchasers. “No other builder in the industry is offering to pay purchaser’s mortgages,” says Vice-President of Marketing and Sales Todd Palmer.
“They say they are, but then they’re just giving a discount on the price and the purchaser still needs to get approved by the bank. We’re actually holding the mortgage.” If a purchaser has the 15-per-cent down payment, Pratt Homes will hold the mortgage and not require a principle or interest payment for three years from the closing date.
“We understand the difficulties some homeowners are facing right now, and we want to help with this program,” says Pratt Homes’ owner Karen Hansen. Pratt Homes will not be charging any interest at all on these deals. A purchaser can move in, pay their condo fees, utilities bills and property taxes and Pratt Homes will waive the principle and interest payments. No interest will accrue of the 36 months while the purchaser lives in the suite.
About Pratt Homes
Pratt Homes has been building detached, condos and townhomes in Barrie for more than 100 years. The company is the founder of the successful CMHC approved Rent to Own program and have a low deposit structure program helping homeowners afford their dream of homeownership. Pratt Homes has an exceptional Tarion New Home Warranty record and is considered one of the most professional and experienced builders in Ontario. Pratt Homes has been awarded SAM, ACE and Chamber awards for homebuilding, and were also nominated for a Tarion Award and Canadian Home Builder Award.
Banting Square, Alliston
Pratt Homes will open its Banting Square sales office for a soft opening on Saturday, Feb. 2, 2019 at 161 Wellington St. in Alliston to start meeting with potential purchasers and offering this mortgage and interest free program.
The grand opening will be on Saturday, Feb. 9, 2019 from noon to 5 p.m.