What is a 2/1 Buydown? How does it work?
As this real estate market becomes a little more balanced between buyers and sellers, we all need to shift our focus on the elephant in the room: High interest rates. So what is a 2/1 buydown, and how does this not only help buyers, but also sellers in selling their house?
This is actually an amazing tool for sellers (as a home selling marketing plan) to offer buyers when selling their house. You can take a look at the numbers below, to see how much it would cost a seller, and how much savings the buyers would realize. It's actually quite astonishing just how much someone saves in the first and second year!
A 2/1 buydown is a type of mortgage financing arrangement where the interest rate on a home…
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