Need a house now but higher interest rates got you down? Maybe a 2/1 buydown credit from the seller can help you.
A 2-1 buydown is a type of financing that lowers the interest rate on a mortgage for the first two years before it rises to the regular, permanent rate. The rate is typically two percentage points lower during the first year and one percentage point lower in the second year.
How do I get the 2/1 buydown. When its time to write an offer on a house, your agent will ask the seller to provide a credit out of the proceeds towards your buydown. This money is held in an escrow account and prepays a portion of your payment each month for the first two years giving you time to refinance when rates are lower.
Save over $700 a month your first year on 246 Holmes Rd Bonners Ferry ID 83805
Seller offering interest rate buydown credit to lower your monthly payment and give you time to refinance when rates go down. Idyllic 13.36 acre country estate has it all! Horse lovers will enjoy the massive 2500sf barn, 8 separate cross electrified fenced pastures, private stocked fish pond, storage shed, chicken coup and a 10x24 barn. Built in 2006, the 2 bedroom, 2 bath home, office, den, features open beams, fire view gas stove, rock hearth, French doors and 15' high windows remote controlled blinds. The stunning kitchen offers maple cabinets, tiled counters, new stainless appliances and hood fan, not to mention the pantry and mud room! Huge deck upstairs overlooking the property, pond, circular driveway and breathtaking mountain views. There is a shaded bbq patio in front or lounge in the back under electric awning. Plenty of water with both Beeline hookup and a 12GPM well. On a county rd, with power, 1,000 gal propane tank and large solar panel to reduce power bill. No CCRS, No HOAs, No Road or Train noise. A great mix of trees, meadows, and views. Appraisal and inspection done.
Call Rain Silverhawk Sandpoint Realty 208-610-0011
Good News!!!
We are expecting Interest rates to lower next week so the figures will change but here is a flyer explaining and interest rate buy down we are offering on 246 Holmes Rd Bonners Ferry ID
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