A GOOD TIME TO BUY Now is a good time to buy. There are a lot of homes for sale. Sellers are offering price reductions, concessions towards closing costs, and rate buydowns. The temporary rate buydown is popular. There are three different types of temporary buydowns, 3/2/1, 2/1, and 1/0. For instance, in...
Category: Buydowns
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BUYDOWNS
Buydowns are very popular right now. As it is a buyer’s market in many parts of the country, sellers are willing to negotiate with buyers to buydown their rate. There are 3 different types of temporary buydowns: 3/2/1, 2/1, and 1/0. The numbers represent how much your rate is reduced each year. For example, if...
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NOW IS THE TIME TO BUY
NOW IS THE TIME TO BUY The inventory of homes for sale is growing as there are more sellers than buyers in the market. Thus, it is a good time to buy now as you will have more selection. Also, sellers may be willing to contribute towards your closing costs which you can use to...
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HOW TO GET A LOWER MORTGAGE PAYMENT
With higher mortgage rates, many people are sitting on the sidelines and choosing not to purchase a home as the payment is high. Here are some suggestions to get a lower payment. If the seller has a VA or FHA loan, you may be able to assume their mortgage, and their low interest rate. So,...
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SCARY RATES – CONSIDER A BUYDOWN
With mortgage rates being the highest they have been in many years, you may be scared to finance a home. However, there are tools by which to combat these higher rates. Buydowns are a way to lower the interest rate. A permanent buydown is where the rate is bought down permanently for the life of...
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BUYDOWNS – FIRST-TIME HOMEBUYER VIDEO SERIES
With mortgage interest rates rising, buyers are looking for ways to reduce their payment. One way to do this is with a buydown. There are temporary and permanent buydowns. Temporary buydowns are trending. Temporary buydowns reduce the rate one year at a time, gradually increasing to the negotiated rate. Temporary buydowns can be 3/2/1, 2/1,...