Mortgage rates have more than doubled in a matter of months. This is making homes much less affordable for today’s buyers. It’s also softening the strong seller’s market we’ve experienced over the last few years. Because of this, it’s important for home sellers to use all of the tools at their disposal to make their homes as marketable as possible. It’s equally important for home buyers to make their home purchases as affordable as they can. One way you can do this is with an interest rate buydown. An interest rate buydown reduces the monthly mortgage payment for the home buying borrower.
Continue reading What Is a Mortgage Buydown?
