September 22nd, 2022 1:41 PM by Ken Morley
First time homebuyers and homebuyers can benefit from a new program referred to as a 2-1 Buydown fixed rate program. This means that the first year of the loan your rate will be 2% below the current effective rate and then the second year it will be 1% below the current effective rate. The lower rates result in lower payments for the first 2 years which can amount to a significant amount of savings. The 2-1 Buydown is funded by the seller, realtor, or a combination of both, so it is not coming out of your pocket. If you have a scenario you would like me to analyze or if you would like to know more about the 2-1 Buydown fixed rate program simply give me a call at (303) 650-9400.