I am excited to let you know that in addition to our 2-1 Buydown, the Diana Will Lending Team powered by Princeton Mortgage is now offering a 1-0 Buydown to its list of creative mortgage financing products!
The 1-0 Buydown Product from Princeton Mortgage allows Sellers or other interested parties to add weight to a listing by saving borrowers money!
With this product, the interest rate on the loan is lowered for the first year by 1%. While a traditional lowering of the asking price also saves borrowers money in the long term, a 1-0 buydown can significantly lower the monthly payment for the first year.
After the end of that 1-year period, the interest rate will go back up to the fixed amount for the remainder of the loan; however, borrowers can refinance should interest rates drop lower than their current fixed rate!
This might be a great opportunity to help your sellers who have a home sitting on the market.
Reach out to me anytime to ask questions or learn more by calling or texting my cell at 251-508-1336.