2/1 Buydown Program


I'm very excited to announce a new product we have called a "2/1 Buydown". This program provides a 2% lower rate the first year, 1% lower the second year and back to market (current) rate the 3rd year. 

 

Seller benefit: net much more money than doing a price reduction that would provide a buyer similar savings. 

 

Buyer benefit: on a $400k loan save a massive $475/month the 1st year and $245/month the 2nd year. Know your rate/payment worst case in the 3rd year but likely able to refinance before this into a lower 30 year fixed.

 

WIN WIN!

 

With interest rates being higher right now with a high likelihood they will drop within the next couple of years, buyers will likely be able to refinance into a lower rate before the 3rd year. 

 

The only condition on this is the seller has to pay the buy down fee which usually equates to about 2.25% of the loan amount. 

 


Brandon Park

Brandon Park Team

Cornerstone Mortgage Group, LLC     Georgia Residential Mortgage Licensee - 21412

Company NMLS - 147913

Office : (678) 365-0287    

Web : brandonparkmortgage.com

36 views0 comments

Recent Posts

See All