WHY DO A BUYDOWN?
Buydowns are a great way to sell a home. If the seller is willing to take a full price offer and offer incentives to close, a homebuyer is more likely to look at the home. Being creative is what realtors could do to get their listings sold and to help the purchaser when making an offer on a home.
For example:
$400,000 purchase price—seller pays 3% with 3-5% down = $12,000 Seller paid or if 90% loan, seller can pay 6% or $24,000! FHA is an option for primary homes with 6% also.
There are several types of buydowns:
Permanent buydown:
$4000 for closing costs and $8000 to buy down the rate. You can do a permanent buy down of 2 points to 5.875% vs. a loan with no points at 6.5%.
2/1 buydown: It would cost $8000 and the rate would be: 4.5% the first year
5.5%the second year
6.5% for the remaining 27 years
Call for more information or an example based on your sales price!
WHY DO A BUYDOWN?
Buydowns are a great way to sell a home. If the seller is willing to take a full price offer and offer incentives to close, a homebuyer is more likely to look at the home. Being creative is what realtors could do to get their listings sold and to help the purchaser when making an offer on a home.
For example:
$400,000 purchase price—seller pays 3% with 3-5% down = $12,000 Seller paid or if 90% loan, seller can pay 6% or $24,000! FHA is an option for primary homes with 6% also.
There are several types of buydowns:
Permanent buydown:
$4000 for closing costs and $8000 to buy down the rate. You can do a permanent buy down of 2 points to 5.875% vs. a loan with no points at 6.5%.
2/1 buydown: It would cost $8000 and the rate would be: 4.5% the first year
5.5%the second year
6.5% for the remaining 27 years
Call for more information or an example based on your sales price!
Rates above used for example purposes only. Please call for quote.
For example:
$400,000 purchase price—seller pays 3% with 3-5% down = $12,000 Seller paid or if 90% loan, seller can pay 6% or $24,000! FHA is an option for primary homes with 6% also.
There are several types of buydowns:
Permanent buydown:
$4000 for closing costs and $8000 to buy down the rate. You can do a permanent buy down of 2 points to 5.875% vs. a loan with no points at 6.5%.
2/1 buydown: It would cost $8000 and the rate would be: 4.5% the first year
5.5%the second year
6.5% for the remaining 27 years
Call for more information or an example based on your sales price!
WHY DO A BUYDOWN?
Buydowns are a great way to sell a home. If the seller is willing to take a full price offer and offer incentives to close, a homebuyer is more likely to look at the home. Being creative is what realtors could do to get their listings sold and to help the purchaser when making an offer on a home.
For example:
$400,000 purchase price—seller pays 3% with 3-5% down = $12,000 Seller paid or if 90% loan, seller can pay 6% or $24,000! FHA is an option for primary homes with 6% also.
There are several types of buydowns:
Permanent buydown:
$4000 for closing costs and $8000 to buy down the rate. You can do a permanent buy down of 2 points to 5.875% vs. a loan with no points at 6.5%.
2/1 buydown: It would cost $8000 and the rate would be: 4.5% the first year
5.5%the second year
6.5% for the remaining 27 years
Call for more information or an example based on your sales price!
Rates above used for example purposes only. Please call for quote.
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