Last updated November 2, 2026. Every offer below was checked on the builder’s own website that day. Offers change monthly, and some end mid-month, so confirm the current terms with the sales office or your agent before you sign.
Richmond’s builder incentives turned over on November 1, and most of them are still rates, not cash.
The fine print on those rates changed more than the headlines did.
Main Street Homes replaced its October offers with a 5.75% initial rate on a 10/6 ARM for contracts November 1 to 30. Richmond American’s Richmond promo rates and its 1-0 buydown run through contracts signed by November 15. Stanley Martin posted a 4.99% ARM, fixed for 5 years and effective October 23, with up to $15,000 toward closing costs on select homes. Eastwood’s closing cost help on select quick move-ins goes up to $20,000, and its holiday promotion runs through December 31. D.R. Horton’s Red Tag Event page now redirects to a general move-in-ready page, and Lennar’s Black Friday event covered contracts through November 1. Neither has a dated Richmond replacement posted, though Lennar still shows per-home savings with Lennar Mortgage on select Richmond-area move-in-ready homes. Every figure below comes from the builder’s own website on November 2, 2026, and each row links to that page.
Daniel Yoon is a Certified New Home Co-Broker (NHCB) representing buyers on new construction across Henrico, Chesterfield, Hanover, and the outer counties. Promotions change monthly, so treat the table as the shape of each program and confirm the current terms in writing before you sign.
New construction incentives Richmond VA builders are offering right now
| Builder | November offer (checked Nov 2, 2026) | What it requires | Ends |
|---|---|---|---|
| Main Street Homes | 5.75% initial rate on a conventional 10/6 ARM, fixed 10 years, on select to-be-built and quick move-in homes | The builder’s designated preferred lender (the offer page doesn’t name it; ask the sales office which lender funds this offer). 10% down, 780 credit score, replaces other incentives, limited funds | Contracts by November 30, 2026 |
| Richmond American | Promo 30-year fixed rates on select Richmond homes (FHA, conventional, and VA), plus a 1-0 buydown that lowers the rate for 12 months | HomeAmerican Mortgage; owner occupants; credit score minimums by loan type | Contract by November 15, close by December 31, 2026 |
| Stanley Martin | 4.99% ARM fixed for 5 years, and up to $10,000 or $15,000 toward closing costs depending on the community, on select homes | First Heritage Mortgage; part of the closing cost help also requires the builder’s recommended closing agent; not combinable; not all neighborhoods | “Limited time” (rate effective October 23, 2026) |
| Eastwood Homes | Up to $10,000, $15,000, $16,500, or $20,000 toward closing costs on select quick move-ins (varies by home); refrigerator and washer and dryer on select homes; “Big Red Bow” holiday promotion | An Eastwood Homes preferred lender (closing cost offers); ask the sales office what the Big Red Bow includes in Richmond | Big Red Bow through December 31, 2026; others “limited time” |
| Schell Brothers | Up to $30,000 at RounTrey and Summer Lake, up to $25,000 at Harpers Mill, up to $20,000 at Barrington and Eagle Bend at Magnolia Green | The $10,000 Platinum Package requires Schell’s preferred lender, settlement attorney, and title insurance company. Flex Cash can go to rate, price, closing costs, or design | Not stated |
| Miller and Smith (Sadler Square) | Half off options, up to $40,000, on to-be-built Maison and Crosby plans | Preferred lender, loan officer, and title company; can’t be used to lower the price; no other incentive combined | Sales agreements through December 31, 2026 |
| Mungo Homes | Charleston Landing at Magnolia Green: quick move-in rates as low as 5.49%, with reduced prices that vary by home (ask the sales office for the current figure); a 2-1 temporary buydown on select homes | Silverton Mortgage; limited pool of funds | Contracts from September 14, 2026; loans close before January 12, 2027 |
| HHHunt Homes | Kinwick Townhomes advertises a low-down-payment option; ask the sales office what the program is and who provides it | Subject to credit approval and loan program limits, including income limits | Not stated |
| D.R. Horton, Ryan Homes, Lennar | No dated Richmond offer posted on November 2. D.R. Horton’s Red Tag Event page now redirects to a general move-in-ready page. Lennar’s Black Friday event covered contracts through November 1, and its Richmond-area page still shows per-home savings on select move-in-ready homes with Lennar Mortgage | DHI Mortgage, NVR Mortgage, and Lennar Mortgage, respectively, when an offer runs | Ask the sales office |
| Eagle, StyleCraft, Boone, LifeStyle, RCI Builders | No Richmond offer posted (Eagle’s only rate offer is outside the Richmond area) | Each lists preferred lenders (RCI: Atlantic Bay Mortgage Group) | Ask the sales office |
Builder offers change monthly, and some end mid-month. Confirm the current offer, the lender it requires, and the deadline with the builder’s sales office or your agent, and get it in writing before you sign.
3 things stand out. First, rates still lead, but they aren’t the same product: Richmond American’s 1-0 is a temporary buydown, Stanley Martin’s 4.99% is an ARM fixed for 5 years, and Main Street’s 5.75% is an ARM fixed for 10. Second, the cash and closing cost offers sit in quick move-ins and named communities: Eastwood’s tiers vary by home, Schell’s totals vary by community, and Stanley Martin’s help is on “select homes.” Third, several large builders posted no dated Richmond offer in early November (D.R. Horton, Ryan, and Lennar, which shows only per-home savings after its event ended), so the real number lives in the sales office.
The 4 kinds of incentive, and what each one is worth
Closing cost credits. A fixed dollar amount applied at settlement, nearly always conditioned on the builder’s lender and often its title company or closing agent too. Eastwood’s quick move-in tiers and Stanley Martin’s closing cost help are this month’s examples. This is the easiest incentive to value: it’s worth its face amount minus whatever the lender’s rate and fees cost you above an outside quote. Our preferred lender guide walks through that comparison in 10 minutes with 2 loan estimates.
Rate buydowns. 2 very different products share this name. A permanent buydown holds for the life of the loan, and Richmond American’s Richmond promo rates come from applying closing cost assistance toward one. A temporary buydown, like Richmond American’s 1-0 or Mungo’s 2-1 on select Charleston Landing homes, lowers the rate for the first 1 or 2 years and then steps up to the loan’s full rate for the rest of the term. A 1-0 takes 1 point off in year 1. A 2-1 takes 2 points off in year 1 and 1 point off in year 2, and the full rate applies from year 3. On a $450,000 loan, a 1-point reduction for 12 months is worth roughly $3,400 in payments over the year, and then it’s gone. Ask which kind you’re being offered before you compare it to a cash credit.
ARM promos. No extended rate lock is posted this month, but 2 builders are advertising adjustable-rate mortgages with a long fixed start: 5 years at Stanley Martin and 10 years at Main Street. The rate holds for that period and can change after it, up or down. Before comparing an ARM promo to a 30-year fixed quote, ask what the rate can do at the first adjustment and at each one after.
Design and flex credits. Money that goes to options, or that can be pointed at several costs. Schell’s Flex Cash can go to rate, price, closing costs, or design selections. Miller and Smith’s half-off options offer at Sadler Square and Main Street’s $1,000 in design options for repeat buyers are design-only. Builders like design credits because their cost on upgrades is well below retail. Value them at what you would have paid a contractor for the same work after closing, not at the builder’s option price.
What is negotiable, and what usually is not
Base price on a to-be-built home in an active community is the hardest number to move, because every discount becomes a comp for the builder’s next sale and the appraisal on the next closing. Standing inventory is different. A finished home carries interest every month it sits, so quick move-ins are where the credits get larger, where a price reduction becomes possible, and where builders advertise the offers you see above. Lot premiums are negotiable more often than buyers expect. So are the pieces of a package: a builder that will not raise the credit will sometimes add a design allowance or waive a lot premium instead.
Timing matters in a predictable way. Builders report to quarterly targets, and September, December, March, and June are the months when a sales manager has the most room. The dated offers in the table above end November 15 (Richmond American) and November 30 (Main Street), Eastwood’s holiday promotion and Miller and Smith’s Sadler Square offer run to December 31, and the next quarter-end is December.
The rule that costs buyers the most
The builder typically pays the buyer’s agent, as long as the agent is registered on the first visit to the sales office. In that setup, representation costs the buyer nothing. Walk in alone and sign the visitor sheet, though, and some builders won’t pay for representation afterward. Schell Brothers, for example, pays only when the agent registers the buyer before or during the first visit. Policies vary by builder, so ask for each one’s policy in writing. Registration costs nothing and takes a minute, and it’s the single highest-return step in the process. We explain what a buyer’s agent checks on every builder purchase on our new construction page.
Before you count the incentive, read the warranty
An incentive is a one-time number. The warranty is a 10-year one, and several builders in the table above, including Stanley Martin, Schell Brothers, and Richmond American, don’t publish their terms on their websites. A $15,000 credit from a builder with an insured 10-year structural warranty and a $15,000 credit from a builder with no published terms aren’t the same $15,000. Our warranty comparison lists every builder’s published terms side by side.
Frequently asked questions
What new construction incentives are Richmond builders offering in November 2026? As of November 2, 2026: Main Street Homes has a 5.75% initial rate on a 10/6 ARM for contracts signed November 1 to 30, through the builder’s designated preferred lender. Richmond American lists 30-year fixed promo rates and a 1-0 buydown through HomeAmerican Mortgage for contracts by November 15. Stanley Martin advertises a 4.99% ARM, fixed for 5 years, through First Heritage Mortgage, plus up to $15,000 toward closing costs on select homes. Eastwood offers up to $20,000 toward closing costs on select quick move-ins with an Eastwood preferred lender. Schell Brothers lists up to $20,000 to $30,000 in incentives, depending on the community. Miller and Smith offers half off options, up to $40,000, at Sadler Square for sales agreements through December 31. Mungo advertises rates as low as 5.49% at Charleston Landing through Silverton Mortgage. D.R. Horton and Ryan had no Richmond offer posted, and Lennar’s last posted event covered contracts through November 1. These change monthly, so check the builder’s page before you visit.
Do I have to use the builder’s lender to get the incentive? For most published offers, yes. Federal RESPA rules bar a builder from requiring its affiliated lender, so each program is written as a credit or a rate for choosing it. You can bring your own financing and give up the credit. Whether that’s the better deal depends on the lender’s rate and fees, so compare loan estimates from the builder’s lender and an outside lender on the same day.
Can I negotiate the price of a new construction home in Richmond? On standing inventory, often. On a to-be-built home in an active community, rarely, because the builder protects its comps. Credits, lot premiums, and design allowances move more easily than base price.
Are the builder promo rates real? Yes, as promotional rates through the builder’s lender on qualifying homes and loan types. They aren’t the same product, though. Richmond American’s 1-0 buydown lowers the rate for 12 months, then it steps up to the loan’s full rate. Main Street’s 5.75% is fixed for 10 years on a 10/6 ARM, and Stanley Martin’s 4.99% is fixed for 5 years on an ARM. After the fixed period, an ARM’s rate can go up or down. The loan type and the reset terms matter more than the headline number.
Does the buyer’s agent cost me anything on new construction? Usually not. The builder typically pays the buyer’s agent, as long as the agent is registered on your first visit. Ask each builder for its policy in writing, because some builders won’t pay an agent who wasn’t registered then.
Get the current offer in writing before you tour
We check every builder’s published and unpublished incentives before a first visit, register on that visit, and run both loan estimates before anyone signs. Builder offers change monthly, and some end mid-month. Confirm the current offer, the lender it requires, and the deadline with the builder’s sales office or your agent, and get it in writing before you sign. Daniel Yoon is a Certified New Home Co-Broker, ABR, and SRS with eXp Realty. Call or text 804-896-2694, or book a time at cal.com/danielyoon. Browse every new home in the region at showingnew.com/dyoonnewhomes. We are not lenders; rate figures above are the builders’ published examples, and your loan officer prices your file.