3-2-1 Buydown

At MortgageDepot, we understand the significance of manageable mortgage rates for our borrowers. That’s why we’re excited to offer an attractive solution—our 3-2-1 buydown program, specially designed to ease the initial financial stress of homeownership. Let’s take a closer look at what our 3-2-1 buydowns can offer.

The 3-2-1, 2-1, and 1-0 buydowns are structured to benefit buyers looking for reduced rates over a specific time frame. The 1-0 buydown stands out by allowing a lender credit to cover the buydown cost, an attractive feature for borrowers seeking affordability right from the start.

Buydown plans are established under written agreements between parties, ensuring clarity and mutual understanding between the source of buydown funds and the borrower. We offer these buydown options to aid borrowers in achieving manageable rates. With FICOs from 620 and fixed-rate options, we provide flexibility to align with various financial profiles and preferences.

These buydown plans are available for purchase transactions, specifically for owner-occupied units ranging from 1 to 4 (excluding manufactured homes). To further assist our borrowers, we ensure that all buydown costs come from specific third-party sources, including the seller/builder, listing/buying agent, or the borrower.

At MortgageDepot, we believe in supporting our borrowers by making their homeownership journey more accessible. Our 3-2-1 buydowns aim to offer manageable rates, providing relief in the crucial early stages of home ownership.

Connect with one of our loan consultants to learn more.