Interest Rate Buy Downs - How They Work And Which One You Should Get?

This is the power of a rate buydown:
For example, lets say you have a $650,000 home you go FHA and put 3.5% down with a 7% interest rate your total monthly payments would be $4800. If the seller were to pay for a 3-2-1 buydown you could bring the monthly payments down to $3600! If the home has a basement apartment that you rented out for $1500 you could use that to offset your mortgage even more!

In this video we talk about the different Interest Rate buy-downs, we delve into the intricacies of both Temporary and Permanent options. Gain a comprehensive understanding of how these buydowns work and determine which one aligns with your financial goals.

Discover the nuances of Temporary Buydowns, designed to provide short-term relief by subsidizing initial mortgage payments. We break down the mechanics, benefits, and potential drawbacks to help you make an informed decision.

On the other hand, Permanent Buydowns offer long-term advantages by adjusting interest rates over the life of your loan. Learn how this option can impact your overall mortgage payments and contribute to your financial stability.

Whether you're a first-time homebuyer or considering a refinance, this video provides essential insights into maximizing your financial strategy. Make informed decisions by understanding the differences between Temporary and Permanent Buydowns.

Subscribe now for more valuable content on mortgage tips and financial education. Don't miss out on the knowledge that could save you money in the long run!

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Alex Jimenez
Prime Real Estate Experts

Oscar Kersey
Ultimate Home Lending
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