Trace North Mortgage Options

Trace North was partnering with First Horizon and appears to have now switched to Wells Fargo in order to offer a special payment plan if you put 10%+ down.

Their incentive is for year 1 the rate is 4%, year 2 it is 5% and year 3, 4 and 5 it’s 6%.

It’s not a free Smart car but it’s better than nothing.

I should probably pick up a Sunday Seattle Times to see what the other specials these days are.

About Matt Goyer

I love condos, lofts, floating homes, new construction and mid-century moderns so much so that since starting this blog in 2006 I've written over 2,000 blog posts about them!

For years I resisted becoming a real estate agent preferring to be a marketing executive at Redfin but after leaving Redfin (after seven years!) I caved in the spring of 2014 and became a broker. So if you need help finding that "Urbnlivn-style" place or selling your home email me at matt@urbnlivn.com, I'd be happy to help you.

Prior to Urbnlivn and Redfin, I worked at Microsoft after graduating from the University of Waterloo with a Bachelor of Mathematics with a major in computer science.

You can also find me on Twitter, @MattGoyer, or LinkedIn.

  • Jason

    I got a message from Trace saying the same thing. In the fine print it describes the loan as a 5/1 ARM. After all we’ve seen in the last couple of years, why would anyone put in for an ARM right now? Those teaser rates look great now, but with a fixed rate you can still lock in something in the low sixes for 30 years.

  • Jason

    I got a message from Trace saying the same thing. In the fine print it describes the loan as a 5/1 ARM. After all we’ve seen in the last couple of years, why would anyone put in for an ARM right now? Those teaser rates look great now, but with a fixed rate you can still lock in something in the low sixes for 30 years.

  • richard

    Same reason as before. The coveted buyers are the people thinking short term. Do they REALLY want to try and sell to people looking 5+ years out? That is a hard sell.

  • richard

    Same reason as before. The coveted buyers are the people thinking short term. Do they REALLY want to try and sell to people looking 5+ years out? That is a hard sell.

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  • http://www.taxforeclosurecurrentevents.com/ Tax Foreclosures

    Great blog. Very informative, especially in light of the ever changing mortgage market, consumers need up-to-the-minute updates on what’s going on.

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    Great blog. Very informative tips , especially in light of the ever changing mortgage market, consumers need up-to-the-minute updates on what’s going on.

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    With the current economic climate less people are spending. Banks are desperate to offer mortgage loans for hope that consumers will consume (as we all know, consumption is one of the most important factors needed by our economy to stay afloat). But to really help alleviate the credit crunch, i think banks also offer lower interest rate to encourage borrowers to pay-off debt or to apply for a loan.