Charleston · Buying
What is a mortgage rate buydown?
A mortgage rate buydown is a payment, made by the buyer, seller, or builder, that lowers the interest rate on a loan either for the life of the loan or temporarily for the first few years, in exchange for that upfront cost. A temporary buydown can ease the first years of ownership when a buyer expects income to grow or rates to eventually improve. Brian Beatty can help weigh whether a buydown makes sense on a specific offer.
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