I CAN HELP BORROWERS LOWER THEIR INTEREST RATE BY UP TO 3% AT THE START OF THEIR LOAN.
I can give my clients extra flexibility with a lower monthly payment by offering them a Temporary Rate Buydown to lower their interest rate at the start of their loan. It’s a great option for almost any borrower, especially those who:
- Expect an increase in their income in the next few years.
- Have excess seller concessions to use and want to take advantage of a low fixed rate?
- Are looking to do renovations, make upgrades, or buy furniture for their new home?
- Are going from renting to buying and want to ease into their mortgage with a lower payment?
Temporary Rate Buydowns are available for:
- Conventional primary and second home purchases.
- FHA and VA primary home purchases.
- Prime Jumbo 30-year fixed primary and second home purchases.
The borrower must qualify for the full monthly payment (before the buydown rate is applied).
For the seller-paid option, seller concessions are deposited as a lump sum into a buydown account. A portion of this sum is released each month to reduce the borrower’s monthly payments.