temporary rate buydown: Temporary Rate Buydown
- 11/16/22 09:03 AM
Temporary Rate Buydown
What is a temporary rate buydown and how does it work?
Sometimes we are in an unusual market and some tools are better than others for home buyers and sellers alike. A temporary rate buydown is such a tool I encourage buyers to consider in today's market.
Briefly a 2-1 buydown reduces the interest rate by 2 points the first year and 1 point the second year. The third year the rate goes to the note rate.
A homebuyer can save a substantial amount of money on a mortgage the first year and in a market where it seems mortgage rates may … (4 comments)
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Temporary Rate Buydown
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