Method for helping borrowers with low income in qualifying for a loan, this type of mortgage starts with three temporary interest rates that will increase until a permanent rate is set. Sometimes offered by home builders as an incentive in attracting buyers.
Related information about 3-2-1 buydown:
- 3-2-1 Buydown Definition | Investopedia
A type of mortgage with a series of three initial temporary-start interest rates that increase in a stair-step fashion until a permanent interest rate is reached.
- What Is a Temporary Buydown? - Mortgage Professor
Oct 27, 1999 ... "I was told that my income is too low to meet 'expense guidelines', but that for 6 points additional I could get something called a 3-2-1 buydown ...
- Home Buying: Is a 3 -2- 1 buy down really good for a first time buyer ...
Mar 8, 2010 ... Here's an alternative to the 3-2-1 buydown. Tell the lender to utilize the money being offered to accomplish a 3-2-1 buydown, to buydown the ...
- Mortgage Buy Downs - How to Buy Down a Mortgage
Note: Lenders typically require a 10% down payment for a 3-2-1 Buydown and a 5% down payment for a 2-1 Buydown. There are other types of mortgage of ...
- Benefits of a 3-2-1 Mortgage Buydown
But if the mortgage includes a 3-2-1 buydown, the interest rates are temporary reduced for the first three years. The reductions get progressively smaller each ...
- 3-2-1 Mortgage Rate Buydowns (fixed rate, interest, real estate ...
Dec 6, 2007 ... Or, more creatively, she could advertise a "3-2-1" buydown -- essentially subsidizing any qualified purchaser's mortgage payments during the ...
- What is 3-2-1 buydown? definition and meaning
Definition of 3-2-1 buydown: Method for helping borrowers with low income in qualifying for a loan, this type of mortgage starts with three temporary interest rates ...
- 3/2/1 Buydown - Premier Real Estate
This illustrates how the home may be more marketable by offering financing concessions to the buyer rather than lowering the price. This i.