texas mortgage: Understanding Mortgage Buydown Programs
- 09/16/07 02:38 PM
With home prices where they are these days the 2-1 buydown in loan programs are becoming increasingly popular. In a buyers market, such as the one we're in at the moment, you can even structure a buydown so that the seller pays for the buydown and closing costs. This means as a buyer you can expect a lower monthly payment with no out of pocket expense to close on the house. What a steal! The 3-2-1 program works the same way except it's over three years. I'll focus on the 2-1 program here for simplicity (you'll see why in the example … (0 comments)
With home prices where they are these days the 2-1 buydown in loan programs are becoming increasingly popular. In a buyers market, such as the one we're in at the moment, you can even structure a buydown so that the seller pays for the buydown and closing costs. This means as a buyer you can expect a lower monthly payment with no out of pocket expense to close on the house. What a steal! The 3-2-1 program works the same way except it's over three years. I'll focus on the 2-1 program here for simplicity (you'll see why in the example … (0 comments)
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