2-1 Lender-Paid Rate Buydown
Unlock your dream home with confidence and enjoy lower monthly payments for the first two years. With the temporary rate reduction covered by our lenders, you’ll start saving from day one and settle into your new home with ease.
- Our lenders will contribute toward the temporary rate buydown, helping you enjoy lower monthly payments for the first 24 months
- You’ll have the flexibility to refinance later if rates improve
- Minimum credit score of 620 or higher
- Applicable for conventional loans only
- For primary home purchases only
- Must be a 30-year fixed rate mortgage
- Homebuyers must qualify with the full (original) interest rate
See if you meet the requirements in minutes
Disclaimer: This is not a commitment to lend. All loans are subject to credit review, underwriting approval, and program guidelines. Loan terms, program availability, and underwriting requirements are subject to change without notice. Temporary interest rate reductions apply strictly during the first two years of the mortgage and return to the full base note rate in year three for the remainder of the loan term. For illustrative and structural purposes: On a $400,000 30-year fixed-rate conventional loan with a base interest rate of 6.50% (6.582% APR) and a 20% down payment, the borrower’s effective interest rate is 4.50% during Year 1, 5.50% during Year 2, and returns permanently to the 6.50% base note rate for Years 3 through 30. This reduction applies solely to the principal and interest portion of your monthly payment. Local property taxes, homeowners hazard insurance, mandatory flood insurance policies, and monthly homeowners association (HOA) dues are not subsidized, are not part of the buydown calculation, and will vary over time.
