2/1 Buydown

Get a lower interest rate for the first TWO YEARS of your home loan.

A buyer can get a lower interest rate for the first few years of the loan when mortgage points are purchased at closing. This is typically paid for through funds escrowed by the seller.

Buydown Details:

• No pre-payment penalty and payment differential is refunded to buyer if refinanced or paid off during buydown period.

• Conventional mortgages only

• Seller funds the escrow account for differential in payment for the first two years.

• Cost to fund is between 2.25% and 2.5%.

• Counts towards interested party contribution caps

YEAR ONE:

Payment based on 2% below note rate

YEAR TWO:

Payment based on 1% below note rate

YEAR THREE:

Note rate thereafter

Reach out today to learn more.

*Not all applicants will qualify. Please speak with a licensed loan officer today to review your eligibility.