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Toll Brothers Offers Below Market Rates to Metro Detroit Home Buyers For Limited Time

Now through Sunday, June 7, new buyers at any of Toll Brothers’ nine communities across metro Detroit can lock in one of the lowest 30-year fixed rates in history for up to 12 months at no additional cost.

Each Toll Brothers home includes a substantial list of included features.
PRLog - May 29, 2009 - NOVI, Mich. -- Novi, MI -- Toll Brothers, America’s luxury home builder, is launching a 10-day sales event that gives new home buyers every reason to capitalize on the buyer’s market and build the new home they’ve always wanted. Beginning today and running through Sunday, June 7, new buyers at any of Toll Brothers’ nine communities across metro Detroit can lock in one of the lowest 30-year fixed rates in history for up to 12 months at no additional cost*.

“Anyone buying during this event will receive a superior Toll Brothers home packed with more value than ever at an incredible price and at a rate that they can feel great about,” says William Bye, vice president of Toll Brothers. “It just doesn’t get any better than this.”

“To give you an example, the average 30-year fixed rate was recently at 5.5%, with no points for loan amounts up to $417,000. However, buyers who take advantage of this special program would get a rate around 4.25% (4.3% APR), and best of all, that rate can be locked in for up to 345 days while Toll Brothers builds your home,” says Christina Griffin, Business Development Manager for TBI Mortgage, Toll Brothers’ mortgage subsidiary.

According to Griffin, this special mortgage incentive equates to real money in the buyer's pocket. “At 4.25%, someone securing a $417,000 loan will have a monthly principal and interest payment of about $2,052,” Griffin says. “This saves the buyer about $315 per month and well over $100,000 in interest over the life of the loan compared to a rate of 5.5%.”

“Below-market rates and the 345-day lock is extraordinary,” Bye says. “This is an incredible opportunity for metro Detroiters to take advantage of the buyer’s market and build the new home they’ve always dreamed about."

The deal is exclusively offered through TBI Mortgage Company (http://www.TBIMortgage.com) and requires a minimum 20% down payment. Jumbo loans also are available at a discounted interest rate, and other programs and packages are available to meet the needs of all buyers. Conditions apply and interested buyers should consult a Toll Brothers sales representative for details.

The company also has a few completed homes and condominiums available now for those who are in need of immediate occupancy. “The value we are offering on our quick-delivery homes has never been greater,” Bye says.

For those with a home to sell, the builder offers special programs to help, including home-staging services and extended build times.

Toll Brothers was voted No. 1 among home builders in Quality of Products and Services, Quality of Management, Financial Soundness, Long-term Investment, and Use of Corporate Assets in Fortune magazine’s World’s Most Admired Companies 2009.

“We’re certain that Toll Brothers’ continued appeal despite the current market is due to its unwavering financial strength and its stability,” Bye says. “Buyers are looking for great value in the deals that are out there right now, but they also want to know that their dream home will be completed as promised on time and on budget and that the builder is here to stay.”

Toll Brothers Inc. is the nation’s leading builder of luxury homes. The company began business in 1967, became a public company in 1986, and expanded into Michigan in 1999. Its common stock is listed on the New York Stock Exchange under the symbol “TOL.” The company serves move-up, empty-nester, active-adult and second-home home buyers, and operates in 21 states.

Toll Brothers is the only publicly traded national home-building company to have won all three of the industry’s highest honors: America’s Best Builder from the National Association of Home Builders, the National Housing Quality Award and National Builder of the Year.

For more details on this sales event, visit any of the company’s new home communities in Novi, Northville, Milford or Superior Township. For information, call 888.352.4663, or detailed maps and directions can be found at http://www.TollBrothers.com/Michigan.

*For qualified buyers only. This is not an offering where prohibited by law. See www.tbimortgage.com for state licensing information.

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Toll Brothers, America's Luxury Home Builder, publicly traded on the NYSE (TOL:NYSE). TollBrothers.com

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Source:Toll Brothers
Location:Novi - Michigan - United States
Industry:Business, Real Estate, Banking
Tags:financing, Mortgage, new home, metro detroit, toll brothers, novi, milford, northville, ann arbor, Real Estate, quality
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