CHOOSING THE RIGHT HOME LOAN
Temporary Buydown
Here's an exciting new way to save money on your mortgage. It's a new mortgage program called a temporary buydown. If you're planning to buy a home soon, it's worth looking into.
TEMPORARY BUYDOWN
Two Most Popular Types
The two most popular types of temporary buydown programs are the 2-1 and 1-0 buydown mortgages
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2-1 Buydown
A 2-1 temporary buydown lowers your rate by 2% for the first year of your loan and by 1% the second year.
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1-0 Buydown
A 1-0 temporary buydown program lowers your interest rate by 1% the first year of your loan.
With either temporary buydown program, you potentially save thousands of dollars off your mortgage payments
TEMPORARY BUYDOWN
How it works
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1. Apply
This type of loan program is available through most mortgage brokers, banks and credit unions.
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3. Negotiate
Your agent attempts to negotiate for the seller to pay the lender fee for the temporary buydown.
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2. Lender Fee
The lender charges a fee to discount the mortgage for the first one or two years of the loan.
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4. Save Thousands
If the seller agrees to cover the fee, you can use the program to save potentially thousands of dollars.
TEMPORARY BUYDOWN
Save Money
If you're interested in programs like this that can save you money on your home purchase, get a copy of The Home Buyer's Kit. While supplies last. Get yours before they're gone.
We hope this information helps you buy the home you've been dreaming about
You may enjoy some of our other home buying special reports
Here's some great news
If you enjoyed this article, then you'd really enjoy The Home Buyer's Kit. Whether you're buying your first home or your 101st, the home buying process can be tricky.
One wrong move in the home buying process and you lose the perfect home to another buyer, pay too much, or get stuck with a house that's falling apart.
The Home Buyer's Kit helps you navigate the buying process. It shows you what steps to take, where to turn, and which pitfalls to avoid. For FREE and with no obligation.
What to do next
If this sounds interesting to you, we've posted a short description of The Home Buyer's Kit here: TheBuyersKit.com. Check it out and let us know.
Karin Aguilar & Brian Smith
Karin and Brian have more than 38 years of combined experience in real estate and mortgages. They founded Showcase Agency, Inc, a real estate and home loan company, in 2017. They live in Irvine with their two daughters.
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