So you’ve heard all about the higher interest rates?
As a buyer you now have more options!
The short version is this….
There is opportunity for sellers to pay closing costs that can be applied to the buyers closing costs and/or to use for rate buydowns.
A Buydown is a type of financing that lowers the interest rate on a mortgage for a period of time.
One example is a 2/1 temporary buydown: Rate reduction of 2% the first year and rate reduction of 1% the second year.
If rates drop, you can refinance at any time!
If you have questions, contact us and we will be happy to help!
It is a good time to buy.
