2-1 Temporary Buydown Mortgages are Available!

Receive a quote on a 2-1 Temporary buydown mortgage today.

Is A 2-1 Temporary Buydown Mortgage Right For You?

 

Do I Qualify?

What? Option for buyers to reduce their interest rate and in turn the monthly payment for a limited period of time through an upfront lump sum fee.

Who? Only seller concessions can pay the upfront lump sum fee – seller paid temporary rate buydown.

How? Borrowers must qualify off of the note rate.

 

About 2-1 Temporary Buydown Loans

FHA, VA and Conventional Purchases only

  • No USDA or Non-Agency products

  • Conventional = Primary and Second Homes

  • FHA and VA = Primary only

  • 2-1 and 1-0 tiers

  • Temporary Rate Buydown fee shown in Section H of fee screen

  • Temporary Rate Buydowns are not available for manufactured homes

The 2-1 Temporary Buydown Loan Process

Here’s how our home loan process works:

  • Year 1 – 2% lower than the note rate

  • Year 2 – 1% lower than the note rate

  • Year 3 – Full note rate

The 1-0 Temporary Buydown Loan Process

  • Year 1 – 1% lower than the note rate

  • Year 2 – Full note rate

Let’s crunch some numbers!

 

Key Benefits

Great opportunity to help Sellers get a property sold without affecting the sales price. With the rising interest rate environment, sellers love this product. The benefit goes directly to the borrower.

  • A great way for borrowers to use any excess seller concessions

  • Creates monthly savings to allow the borrower to get settled in their home and be more financially flexible to purchase furniture, etc.

  • In this market and with our partners, borrowers will more than likely be able to refinance to a lower rate than the one they will adjust to after the 2 years

  • These new options will allow borrowers additional purchase power in certain situations and will allow brokers to continue to use UWM for more of their business

NOTE: If the property is sold by the Borrower and the mortgage is prepaid in full during the buydown period, the non-disbursed and available buydown funds shall be credited to the unpaid principal balance of the mortgage.

NOTE: If a refinance occurs, the buydown funds are held in an escrow account. These funds will be used to pay down the principal of the new loan.

CLICK BELOW FOR A FREE CALCULATOR

 

Get Your 2-1 Temporary Buydown Rate Quote Now!