Since the rise of rates in 2022,
Since the rise of mortgage rates in 2022, lowering rates has been the hot topic for home buyers and sellers alike. Imagine starting your homeownership journey or refinancing your current loan with a rate 1% below market for the entire first year! That’s exactly what the 1-0 Buydown offers – upfront savings that make your dream home or financial goals more accessible than ever.
What is a 1-0 Buydown?
A 1-0 Buydown is a smart mortgage option that temporarily lowers your interest rate by 1% for the first year. This means:
- Lower monthly payments right when you need them most.
- More breathing room in your budget to cover other expenses or build savings.
Why is a 1% Rate Reduction So Powerful?
Let’s break it down:
A 1% lower interest rate could save you hundreds of dollars each month!
Real Numbers in Action
Loan Amount: $700,000
Fixed Rate: 7%
Payment = $4657
Year 1 Rate: 6%
Payment = $4196
Monthly Savings in Year 1: $461
Total Savings in Year 1: $5,532
How Does It Work?
- The reduced rate is funded upfront at closing – often through seller or builder concessions, meaning you don’t pay out of pocket for the savings.
- Year 1: Enjoy payments based on a rate 1% below your locked-in rate.
- Year 2 and Beyond: Transition to your fixed rate with no surprises.
Who Benefits from a 1-0 Buydown?
- First-Time Homebuyers: Ease into your payments while settling into your new home.
- Refinancers: Reduce your payments immediately, giving you financial flexibility.
- Sellers & Builders: Offer an irresistible incentive that helps buyers say YES to your property.
💡 Why Wait? A Rate 1% Below Market Could Be Yours!
Let’s explore how a 1-0 Buydown could help you save big and achieve your homeownership goals.
📩 DM me or click here to schedule your free consultation today! https://freshhomeloan.com/schedule-a-meeting/
Garrick Werdmuller
garrick@freshhomeloan.com
1151 Harbor Bay Parkway Suite 136
Alameda CA 94502
(510) 282-5456
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All loan approvals are conditional and not guaranteed and subject to lender review of all information. Loan is conditionally approved when lender has issued approval in writing, but until all conditions are met, loan cannot be funded. Specified rates and [products may not be available to all borrowers. Rates subject to change according to market conditions and agreed upon lock times set by borrower. Fresh Home Loan Inc. is an Equal Opportunity Mortgage Broker in California. This licensee is performing acts for which a real estate license is required. Fresh Home Loan, Inc. is licensed by the California Department of Real Estate #02137513 NMLS # 2124104
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