INDIANAPOLIS — New homes are popping up all over, and those builders need your business.
Scott Mairn, with Pulte Homes, said one of their biggest incentives right now is a low mortgage rate if you finance through them.
"For the low, low interest rate, it's typically going to be on something that is ready now, or ready within the next 60 days," Mairn said.
Low rates through a preferred lender is an approach other builders are taking, too.
The savings can happen because the groups buy large chunks of money in advance to lend out. It is similar to how we might buy in bulk to save money at a wholesale club.
![](https://media.tegna-media.com/assets/WTHR/images/b3e36d2d-14bf-4569-a1a7-4adb3a08361f/20240814T202549/b3e36d2d-14bf-4569-a1a7-4adb3a08361f_16x9.jpg)
![](https://media.tegna-media.com/assets/WTHR/images/b3e36d2d-14bf-4569-a1a7-4adb3a08361f/20240814T202549/b3e36d2d-14bf-4569-a1a7-4adb3a08361f_1140x641.jpg)
RELATED: Home prices surge in central Indiana
"Today, we're offering 4.99%," Mairn said. "That's a significant advantage."
If you build from scratch, builders may offer you credits.
"They (buyers) can use that towards options if they want to upgrade their home, or they can use that towards buying down an interest rate on their own," Mairn said.
Realtor Amy Spillman, with CENTURY 21 Scheetz, said these offers can help the consumer.
"There's many builders in our community, and so they're competing against one another, and it's still business," Spillman said.
![](https://media.tegna-media.com/assets/WTHR/images/aa1bb737-8836-4148-812a-093ebe0ef9bf/20240814T202855/aa1bb737-8836-4148-812a-093ebe0ef9bf_16x9.jpg)
![](https://media.tegna-media.com/assets/WTHR/images/aa1bb737-8836-4148-812a-093ebe0ef9bf/20240814T202855/aa1bb737-8836-4148-812a-093ebe0ef9bf_1140x641.jpg)
RELATED: US home sales fell in June to slowest pace since December amid rising mortgage rates, home prices
A Zillow report found that in Indianapolis, new builds were about $5 cheaper per square foot than existing homes in May.
While shopping, Spillman said to keep some "asks" in your pocket.
"If they are willing to finish the basement for you, if they're willing to add a covered porch on the back, or if they're willing to even sod the yard instead of seed — those are all things that you can go in and certainly ask. The worst that they can say is no," Spillman said.
That way, you can get the most bang for your buck.