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last updated 7/15/2020

Historically Low Rates

Most people know interest rates have been pretty low in recent times. In the mid 2000’s, a 6-7% interest rate was considered a good rate. All the way back to the 1960’s, 6% was considered good and at times during the 1980’s and early 1990’s rates were as high as 17% and 10% respectively. So even at today’s rates, mortgages are still priced relatively “cheap” in historical terms. Even in the very best mortgage pricing in human history that we can find, 2012 had the lowest 30 year rates at 3.35%. Today as I write this (4-2-2020) we are sitting at roughly 3.8% for a 30 year loan. We’re going to completely blow that away!

However, we recognize at Silverthorne Homebuilders that with everything going on in the world today it might be hard to make a decision on building that new dream home you’ve always wanted. So for that reason, we’ve been working hard the last two weeks to come up with an amazing program. 


We will be offering for a limited time a 30yr interest rate of 2.88% APR for qualified buyers. We’ve made the deal to make this happen and we have limited amounts of these mortgages to offer. Now we’re not bankers but we have partnered with one of our preferred lenders, Key Mortgage ILO, John Cornish, to make this happen for our customers. We have basically reserved and allocated about $4,000,000 worth of loans for our buyers at this preferential rate. It took a lot of negotiating, some cost on our end and a lot of creativity, but we are excited that we will launch this promotion. Our hope is that if you were already looking at buying a new Silverthorne home before this, the extra savings in your monthly payment can maybe allow for you to sell your old home, do a couple upgrades to the new home or even just keep more of your money in the bank during these times. 
Just as an example for you, if you were to purchase a home and take out a mortgage of $300,000 today at 3.8% versus the exciting 2.88% APR rate we are going to be able to extend to our customers the monthly savings would be almost 14% a month.


So now for the fine print: As I stated above, we only have a limited amount of these loans. We took a shot at putting this deal together for our customers and we have a limited amount of these loans. It appears the gap has already closed for us to be able to offer this any further than the pool of loans we have available for this incentive. This incentive only applies to contracts signed after 5-15-2020 in our Illinois and Iowa communities and does not apply to Elevated by Silverthorne. The incentive only applies to new build contracts, not to inventory homes at this time. In order to qualify for one of these loans, you will have to use our preferred lender John Cornish and you will need a pre-approval from John before signing your contract. Also, in order to qualify, you will need a copy of this blog post printed out and attached to your contract to qualify. Based on our average sales prices we should have roughly 10-12 of these loans available for our average customer’s build. You do have to be a qualified buyer and our preferred lender can walk your through what that looks like. If you are a first time homebuyer, FHA or VA buyer we may be able to help you as well, but you would need to talk to the lender for further details. Every buyer’s situation is different and you must qualify with the mortgage lender for this program. Basically, if you qualify today for a mortgage at 3.9% we should be able to get you into this program and get you your 30 year mortgage for 2.88%. You heard that right, the lowest rate ever. EVER. Give us a call today to find out more about what homes are available, what you can build and how you can lock in this all time low rate!

Disclaimer: Content shown above are rough estimates and does not in anyway dictate your actual mortgage rate. Each rate will vary based on situation. 

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