Temporary Rate Buydown
Ease into your mortgage payments
- More affordable mortgage payment during the buydown period
- More time to pay down bills, buy new appliances, or make upgrades to your home
- Add to your savings account
Temporary Rate Buydowns can be appealing to both buyers and sellers, but what are they? A temporary buydown is a loan where the interest rate is temporarily reduced, or bought down, for the first year of the loan. Sellers might utilize a temporary buydown to avoid reducing their home’s list price, while buyers view them as an incentive to buy. We offer a 1 or 2 year temporary buydown to qualified borrowers.
Contact our team today to learn more!
Purchase transactions only (primary residence). Conforming fixed rate mortgages. Additional eligibility requirements and restrictions apply.
*1 year buydown provides for a 1% rate reduction in year one. 2 year buydown provides a 2% rate reduction in year one and a 1% rate reduction in year two.
