Temporary Rate Buydown

A temporary rate buydown means a home buyer can use seller concessions to lower their initial interest rate to obtain a smaller mortgage payment. 

 With a 2-1 buydown, for instance, the interest rate would be reduced by 2% for the first year of their loan and 1% for the second. The buydown is covered by the seller - Which means more money in your pocket for savings, moving expenses and more.  

* Information is subject to change. Certain restrictions apply. Subject to borrower qualifications*