WHAT IS A 2-1 BUYDOWN AND HOW DOES IT WORK?
By now we all know mortgage interest rates are up – WAY up. These high rates are creating major affordability issues for homebuyers. High rates drive higher monthly mortgage payments which are creating difficulties for potential homeowners looking to enter today’s real estate market. This is especially true for first-time homebuyers.
Recently I’ve been implementing the 2-1 Buydown Strategy which is helping today’s homebuyers manage the burden of increased monthly mortgage payments due to high interest rates. In today’s video, I will describe in detail how a 2-1 Buydown works using a specific scenario where I was able to save my client $668 on their monthly mortgage payment.
Recently I’ve been implementing the 2-1 Buydown Strategy which is helping today’s homebuyers manage the burden of increased monthly mortgage payments due to high interest rates. In today’s video, I will describe in detail how a 2-1 Buydown works using a specific scenario where I was able to save my client $668 on their monthly mortgage payment.