What is 2-1 Temporary Buydown?
The 2-1 buydown loan program offers a fantastic way for your borrowers to secure a mortgage with a temporary interest rate reduction. For the initial two years, your borrowers benefit from decreased rates, creating a smoother start to their homeownership journey. By the third year, the rate settles to match the standard loan rate. Think of it as an introductory deal for a mortgage, helping your borrowers transition comfortably into their payments. An ideal choice for clients who appreciate upfront savings and have a clear future plan!
Need a 2-1 Buydown loan scenario review?
If you have a client scenario that you would like our team to review, please use our simple prequal submission form.
PROGRAM HIGHLIGHTS
- Up to 80% LTV / 680 Min FICO
- Add-on Feature to Full Doc, Alt Doc or DSCR 1–4 Units Programs
- Purchase Only
- OO, Second Home, NOO
- 30-Year Fixed-Term Only, Seller- or Builder-funded Only, Lender-Paid or Third Party Buydowns Are Permitted for CORR Clients Only – Qualify off Full Payment (Note Rate)
- U.S. Citizens, Permanent and Non-Permanent Residents