Call us today
We are avaialble 7 days a week by phone, to meet in person or apply on line.
A temporary rate buydown is a fixed-rate mortgage program that reduces the interest rate and, therefore, the payment for a temporary period on purchase transactions. The seller often pays the cost of the buydown at closing. And is available for:
Buyers get added flexibility with a lower rate and monthly payments. This program is perfect for those who:
The cost of this program is about what the buyer saves in interest over the temporary buydown period. The seller usually pays for the cost of the seller’s proceeds at closing on behalf of the buyer. A lender-paid buydown is also offered generally on the 1-0 program. A buydown calculator uses the purchase price, loan amount, and initial interest rate to calculate the cost. We will provide this to you and your realtor; it just takes a couple of minutes so call us today!
The seller benefits by offering an incentive to buy their home in a competitive buyer’s market. The buyer benefits because they get lower initial monthly payments without out-of-pocket costs for the initial lower rate and payments. And can refinance to a permanently lower rate in the future.
The buyer or seller can suggest a temporary or permanent rate buydown. The seller can offer it as an incentive to purchase their home instead of another one nearby. For example, the buyer can request the seller pay for the buydown instead of reducing the house’s price. Either way, the buyer and the seller can benefit from this loan program. When using a Realtor, consider the program when making the initial offer or even use it as a negotiating tool throughout the offering process. The best practice is to have your “ducks in a row” with the correct buydown options and costs. We have a rate buydown calculator to make it fast and easy; it just minutes to get this information. Reach out today, and we look forward to helping you!
Information and programs are subject to change without notice. This is not an offer to lend. All applicants must be credit approved and not all applicants are approved. CharterStone Mortgage is not affiliated with any government agency.
Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.
We are avaialble 7 days a week by phone, to meet in person or apply on line.
NOTICE: For information purposes only. This is not a commitment to lend or extend credit. Information and dates are subject to change without notice. All loans are subject to credit approval. Not all applicants are approved. We are not affiliated with any government agency. The website is intended for the state of Florida only.
CharterStone Mortgage | NMLS #1554192 | www.nmlsconsumeraccess.org | Florida License MBR 2128 | Equal Housing Opportunity