2/1 Buydown Explained - Get a Low Mortgage Rate & Save!

Описание: How a 2/1 Buy Down Works

This kind of mortgage uses the seller's money (or the lender's) to credit you money towards lowering your rate temporarily in the first two years.

In year 1 your payment will be as if you had a rate 2% lower
and in year 2 your payment would be 1% lower

This saves you hundreds if not thousands in just the first two years of your mortgage!

This is great because as we head into a recession it's important to find creative ways to save money when buying a home.

And during a recession, rates typically drop, giving you the opportunity to refinance into a 30 year fixed at a lower rate before you hit the final rate adjustment on your loan.