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.

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