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 »
More from fannie maeMore posts in fannie mae »
- Pulte refers a 4th Democrat, Rep. Eric Swalwell, for mortage fraud
- FICO scores, magic phrases, earnings digs: Inman Top 5
- Homebuilders’ rate buydowns are leaving buyers underwater: WSJ
- Stop freaking out about 50-year mortgages. They might save the housing market
- Mortgage giants ‘very close’ to accepting new FICO score
More from FHFAMore posts in FHFA »
- Pulte refers a 4th Democrat, Rep. Eric Swalwell, for mortage fraud
- What is a 50-year mortgage? The pros and cons of Trump’s proposal
- Homebuilders’ rate buydowns are leaving buyers underwater: WSJ
- Mortgage giants ‘very close’ to accepting new FICO score
- Trump’s 50-year mortgage is ‘a big nothingburger’ for homebuyers
More from freddie macMore posts in freddie mac »
- Pulte refers a 4th Democrat, Rep. Eric Swalwell, for mortage fraud
- FICO scores, magic phrases, earnings digs: Inman Top 5
- Homebuilders’ rate buydowns are leaving buyers underwater: WSJ
- Mortgage giants ‘very close’ to accepting new FICO score
- Trump’s 50-year mortgage is ‘a big nothingburger’ for homebuyers
More from Guaranteed RateMore posts in Guaranteed Rate »
- Rocket Mortgage rolls out bullish $822,550 conforming loan limit
- RE/MAX taps an industry veteran to revive Motto Mortgage brand
- As JVs struggle, Rate names top salesman to head retail mortgage
- Rocket offering renters up to $5K in closing credits
- Homebuyers get a break as big lenders redefine ‘jumbo mortgage’
More from MortgageMore posts in Mortgage »
- Pulte refers a 4th Democrat, Rep. Eric Swalwell, for mortage fraud
- FICO scores, magic phrases, earnings digs: Inman Top 5
- Homebuilders’ rate buydowns are leaving buyers underwater: WSJ
- Stop freaking out about 50-year mortgages. They might save the housing market
- Homebuying off to strongest November start since 2022
More from mortgage rate buydownMore posts in mortgage rate buydown »
More from Rocket MortgageMore posts in Rocket Mortgage »
- Homebuyers like ‘high-touch’ loan advisors equipped with tech tools
- Why 88% of agent conversations never make it to the CRM
- AI helps UWM seize the day, make the most loans in 4 years in Q3
- Fixer-upper or money pit? Key risks buyers face with aging homes
- AI key to growing Rocket, Redfin and Mr. Cooper under one roof
More from SelectMore posts in Select »
- HUD shifts homeless policy away from providing permanent housing
- Pulte refers a 4th Democrat, Rep. Eric Swalwell, for mortage fraud
- RateMyAgent and Curated Social merge to form Renowned platform
- ‘He didn’t even say he was sorry’: Brooklyn investor gets prison time for 12-year deed fraud scheme
- NAR scores a victory in buyer commission lawsuit
Be First to Comment