Though new home sales have been on the uptick, they’re still nowhere near healthy. One home builder in Texas, Megatel Homes, has an unusual plan to drum up sales. If a homebuyer is a healthcare worker or first responder, Megatel Homes will pay the first six months of mortgage payments. And if homebuyers lose their job? The company will pay up to six months of their mortgage as well, even if they are not working in either of the specified fields. So far, Megatel’s bold plan is working: Sales are up 50 percent. By offering support to its clients, the company seems to have eased buyer fears enough for them to make the leap.
Potential homebuyers are understandably skittish about making a move.
Record job losses and a looming economic crash do not make a good environment for home buying.
A North Texas builder is hoping to assuage consumers’ fears by offering a mortgage payment protection plan.
Megatel Homes — which has projects throughout the Dallas-Fort Worth area — is agreeing to pay up to six months of mortgage payments if a new homeowner loses his or her job after the purchase.
“Most of the people coming into our model homes were evading buying a house now because they could lose their jobs,” Megatel co-founder Zach Ipour said. “That’s a concern a lot of people have that currently have a job — what if they get laid off three months down the road?”