Lower Your Monthly Housing Payment with a Buydown Loan Program
You can ease your way into a home with lower payments that simply step up at the end of the first, second and third years and then remain fixed for the remainder of the loan.
With a 3-2-1 Buydown, you can get a 30-year fixed rate loan with an interest rate that’s discounted 3% during the first year, 2% during the second year, and 1% the third year. This is just one way today’s buyers can make buying the home they really want a reality.
Try our buydown calculator to see if this mortgage option would be a good fit for your budget.
*Results are hypothetical and may not be accurate. This is not a commitment to lend nor a preapproval. Consult a financial professional for full details. A 3-2-1 buydown comes with extra upfront costs that are often paid by the seller or builder. There are additional details that vary according to the specific scenario.
Payment example: If you bought a $450,000 home with a 20% down payment, for a loan amount of $360,000, with a 30 year term at a fixed rate of 6.125% (Annual Percentage Rate 6.220%), you would make 360 payments of $2,189.00. Payment stated does not include taxes and insurance, which will result in a higher payment.
