What Is A 2-1 Buy-Down And How Does It Work With Mortgage Rates?

#buydown #mortgagerates #mortgage

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Jennifer Beeston, SVP Mortgage Lending NMLS 247743 at Guaranteed Rate, Inc. NMLS 2611
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[jsully]

I almost did this less than a month ago..then I talked to your team and that truly helped me realize it was foolish to give other people my money to pay down my own payments...the other thing is, is that there are restrictions on getting your money back if you sell or pay off your mortgage early! NO THANKS! I will control my own money an pay down my own mortgage with zero restrictions. So I appreciate your team talking sense into me 🤣.

[Kieshak]

Jennifer what about on a new construction for a non first time buyer??

[sebastianvillacism.]

This pretty valuable information. I'm a first time home buyer and I do lots lots of research before making decisions. My engineering background also allows me to get deep into the math behind everything related to mortgages, interest rates, time value of money, etc, but what you disclose to the public in videos like this is extremely important since not everyone has a strong mortgage or even math background. You are a transparent, honest lender and that sets you apart from the rest. I'll be happy to chat with you regarding our first time home buy process. Thanks for the good work.

[abhiallen]

Hi Jenn, thanks for explaining this. I am new homebuyer and if offered this by my mortgage advisor but she mentioned that house price will increase by amount to fund this 2-1 buydown ie $900k house price will increase to $917k and we will be able to pay 5%, 6% and 7% as per 2-1 buydown. Please advice about this

[erinoliveros]

I work in Escrow and lately we are seeing these on transactions and I didn’t really understand the reasoning behind it or how they work so this was helpful. Thank you, Jen!

[EdinaViensBreakthroughCoach]

I understand nothing about this 2-1buy down. Do you have a detailed video abut this for beginners who never heard this expression before?

[vonglo]

Great tool to use towards a seller or negotiate against them during the purchase process. We are in a market where the power is coming back towards us, the consumer.

[DiggiDoggies]

I have a very serious question NEED HELP!

so we built a house about 2 years ago and everything in my neighborhood was good
until.. the snow melted and a ton of my neighborhood flooded
the water was about 5 feet from getting into our basement but
didnt quiet reach. im scared in future years it might
and if it does reach our basement will this affect the resale value of the
home? also will it change to be considiered in a flood plane
should i sell the house before this happens?
p.s the neighborhood is brand new only about 5 years old.
p, s its a valley

[ArcadeLightGrid]

Hi Jenn, what if a newly built home the builder is paying all closing costs and the 2-1 buydown? Is that a scenario where it makes sense?

[bigd]

So this is only good if the builder or seller pay for, correct? Can this be used with VA?

[kai_veeee]

Can you refinance if you are under a 2/1 (or 3/2/1) buydown at any point in time if the rates goes down or you have to finish the term 2/1 (or 3/2/1) term?

[thenewwayhome]

Very informative, Jen! This is how this program should be explained and presented. I got a migraine seeing that some content creators are referring to this mortgage program as a SCAM. Maybe for those who don't understand and don't have any intensive knowledge of mortgages. 😪

[jenniferlego]

Gimmics. Schooner tuna needs to pay for marketing. Loll