In today's Podcast,my guest Arturo Sanchez of Guaranteed Rate Affinity and I, discuss the 3-2-1 Buy Down of an interest rate for a home mortgage. We will discuss what is a 3-2-1 Buy Down, what type of buyer can benefit from the 3-2-1 Buy Down, how the loan program actually works and more importantly, the risks of the loan program once the "honeymoon" period terminates. The permanent Buy Down loan program is discussed in comparison to provide a deeper understanding of the various programs.
With interest rates at 7.5% today and expected to touch 8% by the end of the year, Buyers are looking for a bit of relief and options to make the home loan more affordable. Buy Downs can provide that sought after relief. It is important for Buyers of homes to understand how the programs work, the benefits to a Buy Down and the challenges and risks.
For more information, reach out to Athena Chilicas Barrocas of Coldwell Banker Realty ☎️954-317-0463 or Arturo Sanchez of GRA 954-980-8887

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