At MortgageDepot, we perceive the importance of manageable mortgage charges for our debtors. That’s why we’re excited to supply a horny resolution—our 3-2-1 buydown program, specifically designed to ease the preliminary monetary stress of homeownership. Let’s take a better 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 patrons in search of decreased charges over a selected time-frame. The 1-0 buydown stands out by permitting a lender credit score to cowl the buydown price, a horny characteristic for debtors in search of affordability proper from the beginning.
Buydown plans are established beneath 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 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 models starting from 1 to 4 (excluding manufactured houses). To additional help our debtors, we be certain 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 house possession.
Join with one in every of our mortgage consultants to be taught extra.