Call Us 24/7 to Get Started:
ما فارسی هم صحبت میکنیم
ما فارسی هم صحبت میکنیم
Discover how a seller-paid buydown can create a pathway to homeownership with more manageable monthly payments.
Please, note: We are craving a tailored approach, so this program is more of an informative nature, to give you an approximate understanding of what to expect from us during making a decision to fund or not. These criteria may vary depending on your exact property and scenario.
A seller-paid buydown can bring numerous benefits for both buyers and sellers:
For instance, in a 2-1 buydown scenario, the seller pays 2% of the interest in the first year and 1% in the second year, reducing the buyer’s monthly payments during that time. After the buydown period, the buyer assumes the full interest rate. This arrangement helps make homeownership more accessible and affordable.
A seller-paid buydown is an agreement where the seller contributes funds to temporarily reduce the interest rate on the buyer’s mortgage loan, leading to lower monthly payments for the buyer in the early years. The buydown period is typically around three years, with the seller covering the difference between the reduced interest rate and the original rate during this time.
Permanent Buydown
Requirements to Qualify for a Seller-Paid Buydown
Typically, the seller or a third party covers the cost of the buydown.
The upfront cost can be significant, and it might not be beneficial if the buyer plans to sell or refinance soon after purchase.
The seller pays the lender to lower the buyer’s interest rate for a set period, making the property more attractive to buyers.
To make the property more appealing, facilitate a quicker sale, and potentially achieve a higher selling price.
Fill out this quick form to receive a personalized loan rate in just 24 hours.