How a Payment Buydown Can Help You Purchase NOW!

Encouraging inflation readings are resulting in the lowest mortgage interest rates we have seen in the past 4 months. We expect interest rates to continue their slow decline throughout 2023.

What can you do NOW to jump into the market before demand increases and you have less negotiating power? 

A payment buydown can reduce your monthly mortgage payment for 1-2 years, enabling you to refinance to a permanently lower interest rate when rates decline.

Traditionally, most temporary buydowns are paid for by the seller as a closing cost equal to the buyer's interest savings. There are two payment buydown options we recommend:

  • A 2-1 buydown reduces the payment rate by two percentage points in the first year, then by one percentage point in the second year, before rising to the full payment after that.
  • With a 1-1 buydown, the payment is reduced by one percentage point for two years.

 Contact us today to get pre-approved to purchase today!

* Specific loan program availability and requirements may vary. Please get in touch with your mortgage advisor for more information.

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