2-1 Buydowns

Mortgage buydowns are nothing new, but have recently been making a big comeback with interest rates in 2022 into 2023. You may or may not have heard of them before, but you’ll want to be familiar with the pros and cons of using a mortgage buydown before purchasing your next home.

Jump to a Section:

  • History of 2/1 Mortgage Buydowns
  • What is a 2-1 Buydown and How Does it Save You Money
  • Upfront Cost
  • Not a Permanent Solution
  • Consumer Behavior
  • No Guarantees on Interest Rates

     

History of 2/1 Mortgage Buydowns

With homebuyers searching for ways to lower their mortgage rates, a previously popular home-selling strategy is making a comeback. Known as a temporary buydown and commonly referred to as…

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As hues of green start to adorn the streets of Metro Detroit, both families living in Metro Detroit and those considering moving to Metro Detroit are on the lookout for the best ways to celebrate St. Patrick's Day with their little ones. Our comprehensive guide to the top St. Patrick's Day events for kids in is your go-to resource for planning a memorable day filled with Irish culture, fun activities, and family-friendly entertainment. From the bustling streets of Corktown during the iconic St. Patrick's Parade to exclusive family fun zones and educational activities that dive deep into Irish heritage, we've curated a list that promises an engaging and unforgettable experience for families eager to embrace the festive spirit of this beloved…

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Detroitstpat, Instagram

 

The streets of Detroit are buzzing with anticipation as we approach the weekend and one of the city's most vibrant and cherished traditions: the St. Patrick's Parade. This annual event, transforms Corktown, Detroit's oldest neighborhood, into a bustling hub of Irish celebration. With the 2024 parade set for March 10 at 1 PM, both long-time attendees and new faces alike, including those living in Metro Detroit and those moving to Metro Detroit, are eagerly planning their participation in what promises to be a memorable day.

Parade Route & Spectator Information

The Detroit St. Patrick's Parade will kick off at Sixth Street and Michigan Avenue, winding its way down Michigan Avenue before concluding at 14th Street, near…

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Nestled amidst the bustling urban landscape, living in Metro Detroit offers an unexpected oasis of natural beauty and adventure, making it a hidden gem for both residents and those considering moving to Metro Detroit. From the serene trails of Crosswinds Marsh to the interactive wildlife exhibits at the Leslie Nature Center, the area's nature centers serve as gateways to exploring the great outdoors. These sanctuaries not only provide a respite from the city's hustle but also a vibrant, educational playground for families seeking to connect with nature. Whether you're a long-time local or newly relocated, the diverse and enriching experiences at Metro Detroit's nature centers promise unforgettable adventures right in your backyard, blending the thrill of…

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Living in Metro Detroit has always meant a phenomenal selection for dining, and 2024 will be no different, with the region's food and beverage landscape set to welcome an exciting array of new bars and eateries. Southeast Michigan is abuzz with anticipation, ready to embrace everything from artisanal small-batch wines to gourmet pizzas, delectable donuts, and innovative Afro-fusion cuisine. The buzz is palpable, not just in the heart of the city but also in its charming suburbs, signaling a year where every culinary desire, from the classic to the contemporary, will find a home in Metro Detroit.

For those considering moving to Metro Detroit, there's never been a more appetizing time. The area's hospitality industry is gearing up to unveil a diverse lineup…

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Michigan's potato industry, valued at $2.5 billion, holds a significant position in the national chip market, with the state's potatoes filling one in four chip bags across the country. According to the Michigan Potato Industry Commission, Michigan ranks as the eighth largest potato producer in the United States, playing a "critically important" role in the chip industry. Approximately 70% of Michigan's potato harvest is dedicated to chip production, supplying renowned brands such as Frito Lay, Herr’s, Utz Snacks, Better Made Snack Foods, and Great Lakes Potato Chip Co. For those living in Metro Detroit, this industry is a cornerstone of the state's economy. Whether moving to Metro Detroit or already calling it home, the impact of Michigan's potato…

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As the frost of winter thaws to reveal the budding promise of spring, the culinary landscape of Metro Detroit is heating up, making it an exhilarating time for both locals living in Metro Detroit and newcomers moving to Metro Detroit. March 2024 has unfurled a tantalizing tapestry of dining destinations, each telling its own unique story through flavors, ambiance, and innovation. From the sophisticated allure of Coeur, where French finesse meets Midwestern warmth, to the vibrant, sky-high vibes at Kamper’s Rooftop Lounge, the city's gastronomic scene is buzzing with energy and creativity. Whether you're a seasoned foodie or simply seeking a fresh taste of the city's burgeoning culinary culture, Detroit's latest restaurant openings promise an unforgettable…

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St. Patrick's Day in Metro Detroit: Top IRISH PUBS Bars, BAR Crawls & More

March 2024 is rounding the corner and Metro Detroit will soon be turning green as St. Patrick’s Day approaches and the Irish spirit takes over. With it comes a wave of events for adults living in Metro Detroit, and for those lucky enough to be visiting during this time who may be considering moving to Metro Detroit. From the bustling streets of Ann Arbor to the historic charm of Corktown, each of these festivities promise unforgettable experiences. Whether you're drawn to the traditional Irish pubs, massive heated tents, or lively bar crawls, there's something for everyone in this dynamic region. Join the community in celebrating Irish culture with authentic food, craft…

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Photo: Henry Ford Health
 

Detroit is on the cusp of a monumental transformation, heralded by the Henry Ford Health system's announcement of a major expansion to its Henry Ford Hospital campus. This development is set to coincide with Detroit Pistons owner Tom Gores' launch of two significant housing projects, promising to deliver at least 500 new apartments to the area. Together, these initiatives represent a staggering $3 billion investment in Detroit's future, signaling a new chapter of growth and innovation for the city.

In addition to the hospital expansion and residential developments, the plans include the establishment of a state-of-the-art joint medical research center. This pioneering facility, a collaboration between Henry Ford Health and…

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You wouldn't know it judging by the roar of the crowds with the U of M Wolverines winning a National College Football Championship this year, but Ann Arbor, Michigan was just ranked as the number 3 most peaceful place to live in all of America. This distinction comes from an analysis conducted by the finance website Insider Monkey, which assessed cities nationwide based on their average noise levels and the accessibility of parks to their inhabitants, culminating in a ranking of the 25 Most Peaceful Places to Live in the US. The only two cities to beat Ann Arbor in this ranking were the smaller communities of Fort Collins and Boulder, Colorado. This accolade is not merely a reflection of the city's tranquil ambiance but also its commitment to…

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