Monday, July 25, 2011

2-1 rate buy-down on FHA, VA, and Conventional Mortgage Loans in Louisville Kentucky

 2-1 rate buy-down on FHA, VA, and Conventional Mortgage Loans in Louisville Kentucky




Help your borrower get into a home with a start rate 2% lower than the current note rate.



Example: If current 30 yr fixed note rate is 4.75%

1st year borrower can get in at 2.75% - 2% below note rate

2nd year borrower will be at 3.75% - 1% below note rate

3rd year borrower will go to the note rate



Buy-down funds may be paid for by borrower, Seller, lender, other 3rd party or can be paid from premium pricing

Great for borrowers who are looking to help keep payments low the first couple of years as they grow in the workforce and increase wages each year

Great as an incentive to help builders move homes

Helps on payment shock



FHA – Purchases only – Fixed rate loans

Conv – Purchase & Rate/Term refi’s - Fixed rate and 5/1 arm loans

VA – allows a 1-1 buydown

Owner Occupied properties only




Fill out my form for a free kentucky mortgage analysis on a 2-1 rate-buydown!