11/07/2022
A lower interest rate is possible for up to the first three years of a loan! Yep, read that again!
A loan is a fixed-rate loan from New American Funding that could reduce your first-year, second-year, and even third-year interest rate on a 30-year loan for qualified buyers. There are four buydown options to choose from:
👉 1-0 Buydown: A payment rate 1% lower than the note rate for the first year on a new loan
👉 3-2-1 Buydown: A payment rate 3% lower than the note rate for the first year, a payment rate that is 2% lower than the note rate in the second year, and a payment rate that is 1% lower than the note rate in the third year on a new loan
👉 2-1 Buydown: A payment rate 2% lower than the note rate for the first year and a payment rate that is 1% lower than the note rate in the second year on a new loan
👉 1-1-1 Buydown: A payment rate 1% lower than the note rate for the first three years on a new loan
With each of these loans, your payment rate is lower than it will be for the rest of the loan. That allows you to save each month and/or put that money to good use.
Get in touch with your New American Funding Loan Officer to determine if this loan program is right for you and if you meet the eligibility requirements. Check out our bio for more buydown information and benefits!
