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At MortgageDepot, we perceive the importance of manageable mortgage charges for our debtors. That’s why we’re excited to supply a gorgeous answer—our 3-2-1 buydown program, specifically designed to ease the preliminary monetary stress of homeownership. Let’s take a more in-depth have a look at what our 3-2-1 buydowns can supply.
The three-2-1, 2-1, and 1-0 buydowns are structured to learn consumers searching for diminished charges over a selected time-frame. The 1-0 buydown stands out by permitting a lender credit score to cowl the buydown price, a gorgeous characteristic for debtors looking for affordability proper from the beginning.
Buydown plans are established underneath written agreements between events, guaranteeing readability and mutual understanding between the supply of buydown funds and the borrower. We provide these buydown choices to assist debtors in reaching 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 items starting from 1 to 4 (excluding manufactured properties). To additional help our debtors, we make 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 consider in supporting our debtors by making their homeownership journey extra accessible. Our 3-2-1 buydowns purpose to supply manageable charges, offering aid within the essential early levels of residence possession.
Join with considered one of our mortgage consultants to be taught extra.
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