Temporary Rate Buydown when Purchasing a New Home.

Temporary Rate Buydowns to help borrowers lower their interest rate for the first 12 to 36 months of their mortgage for the purchase of a primary residence or 2nd home.

BENEFITS

A lower interest rate for the first 1-3 years allowing a lower monthly payment.
Borrower can use the monthly savings to do renovations, upgrades, or buy furniture for the new home.
In a high interest rate environment, you will more than likely be able to refinance to a lower rate than the one they will adjust to after 1-3 years.
Easier transition from renting to buying by easing the borrower into their mortgage with a lower payment.

BUY Down payment info

Example below is a 6.5% Note Rate, 6.559% APR for a $806,500 loan amount and $1,0009,000 sales price. SFR and 740 credit score. Mortgage Payment listed below is Principal & Interest and for illustrative purposes.