Popular Mortgage Buydowns
Posted by Katie Paulsen
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Basics of Today's Popular Mortgage Buydowns
Popular mortgage buydowns work like this.
- Payments are reduced and figured on a lower interest rate over a specific term.
- The difference between the "real" note rate and the lowered interest rate is paid in cash by the seller or the buyer.
- Think of it like a subsidy. It's like socking away $1200 in the bank and withdrawing $100 every month for 12 months to help make your mortgage payment.
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Disclaimer: The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the HRIS.
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