RPS Quality Homes now offers this innovative financing option for your convenience in conjunction with major lenders.
RPS will purchase your choice of section on your behalf, build your choice of home, add the costs of finance and sell the complete package back to you at its completion.
Therefore, all you pay is a minimum 5% deposit on signing a Sales and Purchase Agreement, and the balance on issue of Code of Compliance Certificate - NO progress payments.
Other variations of easykey™:
- EasyKey™ Variation 2
Land and House Packages are useful for clients who have not yet identified their own section. The benefit to clients in this instance is that RPS has already identified a suitable section and have drafted a home plan for a specific site saving our clients time and hassle. RPS will sell the package to clients for a minimum 5% deposit and balance to be paid on completion.
It’s so easy! Reap the benefits of RPS’s pre-negotiated terms with developers and our research done on each of these sections saving you money and time. - EasyKey™ Variation 3
Do you already own a section and want to build a new home? RPS will now build your new home for a minimum 10% deposit and payment of balance on completion. No progress payments! Your plan or ours, you can reap the benefits of getting a home designed to meet your specific needs or make adjustments to any of our predesigned plans.
| easykey™: Variation 1 | |
| Land | $200,000 |
| House | $260,000 |
| Deposit (from 5%) | $23,000 |
Interest Rate 10.65% subject to change
| easykey™ Example: | Major Lender comparison based on traditional building contract: | |
| Section: | $200,000 | $200,000 |
| Home Building: | $260,000 | $260,000 |
| Finance Cost: | $16,178 |
$12, 732
(Less due to larger deposit paid by purchaser)
|
|
Based on 5% deposit, 10.65% Interest Rate, Project Timeframe of 6 1/2 months.
|
||
| Sales & Purchase legal fees: | $1,500 | $1,500 |
| Valuation: | $588 | $588 |
| Progress Valuations: | $0 | $788 |
| Total: | $478,266 | $475,608 |
| Deposit: |
$23,000
(5% deposit)
|
$56,000
(15% deposit on section, 10% deposit builder)
|
| easykey™ Payment method: | Total | $478,266 |
| Less Deposit | $23,000 | |
| Final Payment | $455,266 |
Benefits to Clients:
- Reap the financial benefits of our pre-negotiated builder’s terms with developers.
- The easiest way to build your new home.
- Minimum 5% deposit.
- Fixed price, no surprises.
- Save money (and time) – RPS has done all the research.
- No progress payments.
- No hassle of bank draw downs.
- No progress valuations for bank.
- Overcome financial bridging challenges when you are renting or paying off an existing mortgage.
- Supported by major lenders.
View this recent case study for clarity
Gordon and Trudy Woolley wanted to live closer to their kids’ school in a new dream home for years. So, when they found their ideal section in the new Glaisdale subdivision in Hamilton, which is only 5 minutes walk from the school, they decided to take the next step towards building their new home. However, they had the problem that their existing home had not sold yet, with the obvious consequence that they couldn’t afford to buy and hold the section until their home sold.
The RPS team suggested they look at the EasyKeyTM option. RPS agreed to buy the section on their behalf so the Woolleys was able to secure their preferred section and finalise their building plans.
Upon receipt of their 5% deposit and contracts, RPS started the building process. The result was that the Woolleys had enough time to sell their existing home and did not have to be concerned about making mortgage payments on the existing mortgage, the new section, and the construction loan all at the same time, whilst RPS could start the building process of their new dream home.
RPS also agreed for the Woolleys to make a further capital payment once their home was sold to reduce the EasyKeyTM costs.
"We are very pleased with the way things have been progressing!" Gordon Woolley
See also:
