Lender creates and funds an escrow account that’s used to cover the difference between the full monthly mortgage payment and the payment with the reduced rate until the buydown expires.
Source: Inman News
Rocket funding 2-year rate buydowns for low-income buyers
Published in Bill Banfield, Buyers Tools, fannie mae, FHFA, freddie mac, Guaranteed Rate, Mortgage, mortgage rate buydown, Rocket Mortgage, Select and temporary buydown
More from Bill BanfieldMore posts in Bill Banfield »
More from Buyers ToolsMore posts in Buyers Tools »
- Lenders getting a jump on higher 2026 conforming loan limits
- With fresh capital, Knock ups the limit on its bridge loans to $1M
- Colorado MLS begins offering complimentary Rayse access
- Meme stock rally? Short squeeze? Opendoor’s share price is soaring
- Waltz secures credit to scale foreign investment platform
More from fannie maeMore posts in fannie mae »
- Democrats seek transparency into Fannie, Freddie ‘reprivatization’
- How a government shutdown would affect real estate agents
- Should they stay or go (down) now? Forecasters are split on where mortgage rates will be in 2026
- Better shares soar on bullish thesis by activist investor Eric Jackson
- Lenders getting a jump on higher 2026 conforming loan limits
More from FHFAMore posts in FHFA »
- Democrats seek transparency into Fannie, Freddie ‘reprivatization’
- Lenders getting a jump on higher 2026 conforming loan limits
- Trump asks Supreme Court to remove Fed Governor Lisa Cook
- Fed Governor Lisa Cook can keep her job pending court appeal
- Drunken gunman, new legal filing, Roseanne Barr: Inman’s Top 5
More from freddie macMore posts in freddie mac »
- Democrats seek transparency into Fannie, Freddie ‘reprivatization’
- How a government shutdown would affect real estate agents
- Lenders getting a jump on higher 2026 conforming loan limits
- Trump asks Supreme Court to remove Fed Governor Lisa Cook
- Fed Governor Lisa Cook can keep her job pending court appeal
More from Guaranteed RateMore posts in Guaranteed Rate »
More from MortgageMore posts in Mortgage »
More from mortgage rate buydownMore posts in mortgage rate buydown »
More from Rocket MortgageMore posts in Rocket Mortgage »
- Why Flyhomes is quitting the real estate brokerage business
- Appraisal bias suit against Rocket Mortgage, Solidifi moves forward
- Trump signs bill curtailing sale of mortgage trigger leads in 180 days
- Mr. Cooper shareholders approve merger with Rocket Companies
- Rocket, Mr. Cooper merger OK’d by Fannie and Freddie regulator
More from SelectMore posts in Select »
- What real estate agents can learn from TikTok, Tylenol and Disney
- Democrats seek transparency into Fannie, Freddie ‘reprivatization’
- Former agent convicted of swindling woman out of her home
- Is fall the new spring? Market winds may be shifting, NAR says
- I’ve studied real estate marketing for 31 years. Here are 7 essentials for effective marketing campaigns
Be First to Comment