Are you planning to buy a home? A limited-time mortgage program could help lower your monthly payment during your first year of homeownership.
In this video, I explain the 1-0 Buydown program, which temporarily reduces your mortgage interest rate by 1% for the first year—at no cost to qualified homebuyers through the end of the month.
For example, if your mortgage rate is 6.5%, the program could lower it to 5.5% during year one, potentially saving you around $250 per month on a $400,000 loan. This can provide valuable financial flexibility as you adjust to the costs of homeownership, furnishing your home, and managing moving expenses.
Watch to learn how a 1-0 buydown works, who qualifies, and why acting before the deadline could save you money.
Topics Covered:
What is a 1-0 Buydown?
How mortgage rate buydowns work
First-year homeownership savings
Lower monthly mortgage payments
Homebuyer financing strategies
Limited-time mortgage programs
Chapters:
00:00 Introduction: Limited-Time Mortgage Opportunity
00:08 What Is a 1-0 Buydown?
00:22 Example: Lowering Your Mortgage Rate by 1%
00:38 How Much Can You Save Each Month?
00:55 Why the First Year of Homeownership Matters
01:08 Who Should Consider This Program?
01:14 Offer Deadline & Next Steps
Dave Steinberg NMLS: #67325 Mortgage Broker Summit Funding
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Connect with me:
Office: 718.575.1166
Email: dave@summitfunding.com
https://summitfunding.com
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