Whats a 3-2-1 buydown? How does a 3-2-1 buydown benefit me?

With a 3-2-1 buydown mortgage, the borrower pays a lower interest rate over the first three years in return for an up-front payment to the lender.

The interest rate is reduced by 3% in the first year, 2% in the second year, and 1% in the third year. An example, a 6.5% mortgage would charge just 3.5% in year one.

After the buydown period ends, the lender will charge the full interest rate for the remainder of the mortgage.

This will save you several thousands throughout the program period.

#mortgage #mortgagerates #azrealtor #azrealestate #arizonarrealtor #arizonarealestate #reel #shorts #fyp #explorepage