At MortgageDepot, we perceive the importance of manageable mortgage charges for our debtors. That’s why we’re excited to supply a horny answer—our 3-2-1 buydown program, specifically designed to ease the preliminary monetary stress of homeownership. Let’s take a more in-depth take a look at what our 3-2-1 buydowns can provide.
The three-2-1, 2-1, and 1-0 buydowns are structured to profit patrons on the lookout for decreased charges over a selected time-frame. The 1-0 buydown stands out by permitting a lender credit score to cowl the buydown value, a horny function for debtors in search of affordability proper from the beginning.
Buydown plans are established below written agreements between events, guaranteeing readability and mutual understanding between the supply of buydown funds and the borrower. We provide these buydown choices to help debtors in attaining manageable charges. With FICOs from 620 and fixed-rate choices, we offer flexibility to align with numerous monetary profiles and preferences.
These buydown plans can be found for buy transactions, particularly for owner-occupied models starting from 1 to 4 (excluding manufactured properties). To additional help our debtors, we be sure that all buydown prices come from particular third-party sources, together with the vendor/builder, itemizing/shopping for agent, or the borrower.
At MortgageDepot, we imagine in supporting our debtors by making their homeownership journey extra accessible. Our 3-2-1 buydowns intention to supply manageable charges, offering reduction within the essential early levels of dwelling possession.
Join with considered one of our mortgage consultants to be taught extra.