Exclusive First home Offer
Get Up To $7,500 Toward a Brand-New Home in Cottonwood Subdivision
The Velocity First Home Advantage is designed for first-time buyers in Iron County.
Qualified buyers may receive up to 2% of the purchase price toward closing costs, prepaid expenses, or a lower monthly payment on Cottonwood home plans.
How Does the Velocity First Home Advantage Work?
We put up 1%. Participating lenders may match it for a total benefit up to 2%.
- Velocity Homes contributes 1% of your purchase price toward your financing costs. Participating lenders may offer an additional 1%, bringing your total benefit up to 2% of the purchase price.
- That money can be applied toward closing costs, prepaid expenses, or a rate buydown at closing.
- The total combined benefit is capped at $7,500
*Terms and conditions apply. Buyer is not required to use any specific lender. Incentives are subject to lender approval, loan program guidelines, and applicable limits on seller contributions. Total incentive capped at $7,500. Available on select Cottonwood home plans only. See Velocity Homes sales representative for complete details.
Who Are the Participating Lenders?
Ready to See If Qualify?
Find out in 60 seconds if the Velocity First Home Advantage will work for you.
Answer a few quick questions and a Velocity Homes team member will reach out with available homes, estimated payments, and next steps.
No commitment required.
What Homes Are Available at Cottonwood?
$315,000 | Clover Path
1389 Square Feet | 3 Bed | 2.5 Bath | 1 Car Garage
$335,000 | Cedar Path
1474 Square Feet | 3 Bed | 2.5 Bath | 2 Car Garage
$355,000 | Pineview Elv 1
1544 Square Feet | 3 Bed | 2.5 Bath | 2 Car Garage
$355,000 | Pineview Elv 2
1544 Square Feet | 3 Bed | 2.5 Bath | 2 Car Garage
$365,000 | Silverwood Elv 1
1583 Square Feet | 3 Bed | 2.5 Bath | 2 Car Garage
$365,000 | Silverwood Elv 2
1583 Square Feet | 3 Bed | 2.5 Bath | 2 Car Garage
$375,000 | Meadowbrook Elv 1
1667 Square Feet | 3 Bed | 2.5 Bath | 2 Car Garage
$375,000 | Meadowbrook Elv 2
1667 Square Feet | 3 Bed | 2.5 Bath | 2 Car Garage
Where is the Cottonwood Subdivision?
Cottonwood is located in Cedar City just west of the bowling alley on 3000 North, right off Clark Parkway near Gemini Meadows.
It is a quiet, established area of Cedar City with easy access to shopping, schools, and everything you need day to day. New detached homes are being built right now and lots are going fast.
Use the interactive Google map to explore available lots and home plans at your own pace.
- See which lots are available right now with live status updates
- Click any lot to see which home plans fit, along with pricing and details.
- Reserve your lot online when you are ready to take the next step
Get Answers About the Program
Who is the Velocity First Home Advantage available to?
The Velocity First Home Advantage is designed for first-time buyers purchasing a new home in a select Velocity Homes community. Subject to buyer qualification and lender approval. See a Velocity Homes sales representative for eligible communities and homes.
How does the 2% incentive work?
Velocity Homes contributes 1% of your purchase price toward your financing at closing. Our participating lenders then match that with another 1%. The combined total — up to $7,500 — is applied directly toward your financing expenses at closing.
Do I have to use a participating lender to get the full incentive?
Yes. To receive the full 2% combined incentive, you must finance your home through one of our participating lenders. Velocity’s 1% contribution alone may still be available depending on your situation — speak with a sales representative for details.
What are closing costs?
Closing costs are the fees and expenses you pay on top of your down payment when you finalize the purchase of your home. They typically include things like loan origination fees, title insurance, appraisal fees, and prepaid expenses like homeowner’s insurance and property taxes.
Can the Velocity First Home Advantage be used toward closing costs?
Yes. Qualified buyers may apply the benefit toward closing costs, prepaid expenses, or a rate buydown at closing. Your lender will help you determine the best way to use the funds based on your loan program and financial situation.
Can I use the incentive toward home upgrades or design options?
No. The Velocity Advantage is exclusively for financing expenses. It can be applied toward closing costs, a temporary rate buydown, or a permanent rate buydown. It cannot be used toward home upgrades, structural options, or design selections.
What is the difference between a temporary and permanent rate buydown?
A temporary rate buydown lowers your interest rate for the first few years of your loan, reducing your monthly payment during the early stages of your mortgage. A permanent rate buydown reduces your interest rate for the entire life of your loan, locking in a lower monthly payment from day one and keeping it there. Your lender can help you decide which option makes the most sense for your financial situation.
How do I find out what I qualify for?
Fill out the short form application on this page and a Velocity Homes representative will reach out to walk you through your options. There is no obligation and no pressure — just a straightforward conversation about what the Velocity Advantage could mean for your new home purchase.