02/15/2024
Are interests rates keeping you on the fence with a new home purchase? I have negotiated for several of my buyers to have the seller buy the rate down! Read below for more!
A 2-1 buydown in real estate involves temporarily reducing the interest rate on a mortgage for the first two years. In the first year, the rate is lowered by 2%, and in the second year, by 1%. After this period, the interest rate returns to the original agreed-upon rate for the remainder of the loan term. It's a strategy to make initial homeownership more affordable with lower early-year payments.
Brian Blessing
520-655-6505
[email protected]
