There is big news out of the Escala camp today. With 51% of their units sold, they reached FannieMae approval. I’ve included a portion of their announcement below. There are a total of 269 units in the building.
A portion of Escala’s release from this morning:
Why is this important if you’re looking to purchase a home at Escala?
Reduced down payment – in place of 20% buyers now have the potential to put down as little as 5%.
Lending Options – The number of financial institutions providing home loans at Escala will increase and give buyers a broader selection of mortgage possibilities.
Lower Rates – With additional lending options comes the opportunity to take advantage of the lowest interest rates.