What Is a 2-1 Mortgage Buydown? - Does a 2/1 Buydown Make Sense For You? - Pros & Cons of 2-1 Buydown Mortgage
Posted by Michael Perna on
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.
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- 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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