Get lower interest rates for up to three years

 

Don’t let interest rates stop you from achieving homeownership! Buying a home can be more affordable when your home loan contains a buydown. This feature provides you with lower interest rates for the first one to three years of your mortgage, so you'll have lower monthly payments during the first years in your new home. 

 

Available for most purchase and refinance transactions.  

 

Buydown Options:

• 3-2-1 Buydown:

  • 3% reduction in first year

  • 2% reduction in second year

  • 1% reduction in third year

  • Returns to original locked rate in fourth year

• 2-1 Buydown:

  • 2% reduction in first year

  • 1% reduction in second year

  • Returns to original locked rate in third year

• 1-1 Buydown:

  • 1% reduction in first two years

  • Returns to original locked rate in third year

• 1-0 Buydown:

  • 1% reduction in first year

  • Returns to original locked rate in second year

        

Purchases:

• Conventional Fixed and ARMs

• Primary and Second Homes

• FHA and VA Primary Homes

 

Refinances:

• Limited to Rate and Term refinances only

• Eligible Products:

  • Conventional fixed and ARMs

  • Primary and second homes

  • 5/6, 7/6 and 10/6 ARMs

  • HomeOne® and Home Possible® (1-2 unit properties)