Interest rate Buy Down What's it about?
Are you considering buying a new home but worried about the monthly mortgage payments? A solution you may want to consider is an interest rate buy-down.
In this video, we’ll explain what an interest rate buy-down is and how it can help you save money on your mortgage payments over time.
An interest rate buy-down is when the borrower pays an upfront fee to the lender in exchange for a lower interest rate on the mortgage. This lower interest rate results in lower monthly mortgage payments for a specified period, typically the first few years of the loan.
Stay tuned to learn more about interest rate buy-downs and how they could be a helpful tool for you as a homebuyer