BUYERS, HAVE YOU HEARD OF THE TWO-ONE BUY DOWN?
Don Pelletier
With over 36 years as a professional Realtor, and the 2,200 San Diego home sellers and buyers Don has represented, he has a long-standing tradition an...
With over 36 years as a professional Realtor, and the 2,200 San Diego home sellers and buyers Don has represented, he has a long-standing tradition an...
Buyers, are you frustrated with higher mortgage rates? Did you know there are options available to help offset the costs of these rates?
As an active buyer in today’s housing market, a two-one buy-down might be for you. So, what is a two-one buy-down? It is a mortgage loan to help buyers offset the higher interest rates. With this program, your payment will be 2% lower the first year, 1% lower the second year then it goes back to the 30-year fixed rate mortgage. This is done with a seller credit and the credit is your savings. The seller credit will sit inside your mortgage account and will feed over to payments each month to make that payment whole. Any money left in your escrow account at the end of the term, or if you decide to refinance, will be credited back to your principal balance so It is your money to keep. Fantastic program for buyers today.
If you are a buyer looking to buy and would like more information on this program, feel free to reach out to my team and I so we can guide you in the right direction.
Whether you want to sell your existing home, buy your first home, upsize, downsize, purchase a vacation home, or just talk about options, a real estate professional is your best source for information based on current trends in our area. If you're interested in learning more about the 2023 real estate forecast, don't hesitate to reach out - we're happy to help!