2-1 BuyDown

Posted by on Feb 23, 2011 in 2-1-buydown

With a 2-1 buy down mortgage, the borrow could choose to pay points upfront for a mortgage for the two year period.  By paying upfront, the borrower in exchange lowers his/her monthly payments for the first few years of a mortgage.  Sometimes the mortgage company will offer an overall discount on this.  This option is worth considering and asking your mortgage broker if it makes sense for you based on your credit situation, qualifying, interest rate, and how long...

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