Eugene Mortgage News

We can give our clients extra flexibility with a lower monthly payment by offering a Temporary Rate Buydown to lower their interest rate at the start of their loan. It’s a great option for our clients who expect an increase in their income in the next few years or who have excess seller concessions to use — and want to take advantage of a low fixed rate.

Seller-paid 1- and 2-year buydown options

• 2-1 buydown of 2% in the first year and 1% in the second year. By the third year, they are at the full rate.
• 1-0 buydown of 1% in the first year. By the second year, they are at the full rate.
• See an example of the potential savings on a 2-1 temporary buydown:

• Our clients must qualify for the full monthly payment (before the buydown rate is applied)
• Seller concessions are deposited as a lump sum into a buydown account. A portion of this sum is released each month to reduce the borrower’s monthly payments.

We have other suggestions as well.  Please contact Stepping Stone Mortgage at 541-683-3300 with any questions you may have about mortgage home loans.