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The CPI data released on Wednesday shows that inflation remains under control, and figures from major banks indicate a healthy economic outlook. As a result, interest rates have dropped significantly over the past two days.
In response to the current high-interest-rate environment, we recommend that clients considering home purchases explore temporary rate buydown strategies. These options can reduce monthly payment pressures during the initial stages of the loan. We offer the following buydown options, with costs covered by the bank: 3-2-1 Buydown, 2-1 Buydown, 1-0 Buydown, 1-1 Buydown
Additionally, borrowers have the option to refinance after six months without any further obligations. Please note that any remaining lender credits will be returned to the lending institution.
If you’d like more details, feel free to reach out—I’m happy to assist!
Please note that the following 1-1 buydown quotes only reflect the first year's interest rate.
1-1 Buydown:
Year 1: Interest rate reduced by 1%
Year 2: Interest rate reduced by 1%
Year 3 onwards: Reverts to the original interest rate
- Primary Residence Loan Rates: Include first-time homebuyer discounts.
- Texas/Colorado Loan Rates: Include a discount when using a UWM-approved title company.
- DSCR Loan Rates: Include a three-year prepaid penalty and require a DSCR of ≥1.
