Are you looking for a new home but are waiting for a lower interest rate? A Buydown allows you to reduce your payment and get additional savings for the first few years of your loan term by having a third party, such as a builder or seller, prepay some of the interest on your loan.
Check out these 3 benefits of a Buydown…
Reduce Your Payment
Depending on your buydown option, you could lower your payment by up to 3% below your interest rate for the first year of your loan term with a new home purchase loan.
Less Interest
Since you’ll be saving in the early years of your loan term, you’ll owe less interest over the life of your loan.
Personalize Your Buydown
Choose between 4 different buydown solutions with AmeriHome:
● 3-2-1 Buydown: your payment will be calculated at 3% below your interest rate in year one, 2% below your interest rate in year two, and 1% below your interest rate in year three.
● 2-1 Buydown: your payment will be calculated at 2% below your interest rate in year one, and 1% below your interest rate in year two.
● 1-1 Buydown: Your payment will be calculated at 1% below your interest rate for the first and second years.
● 1-0 Buydown: Your payment will be calculated at 1% below your interest rate for the first year.
Looking to start saving today on your home loan? Let’s upgrade your mortgage and put money back in your wallet with a new Purchase or Refinance Loan.*
6 Money-Saving Tips To Start Today:
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Pay Off Your Loan Sooner Switch to shorter loan terms to save on interest.* |
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Lower Your Monthly Payment Refinance with longer terms, so more money stays in your wallet.* |
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Consolidate Debt Cash-out to reduce high-interest credit card debt. |
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Pay For Larger Expenses Invest in your home with updates that will yield a higher return should you decide to sell in the future. |
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Get Extra Savings After you have financed a home with us once, save up to $750 on all your future refinances and new home purchase loans with your AmeriWallet Benefits.** |
If you are interested in learning more about how a refinance or new home purchase loan can benefit you, just give us a call at 877.715.9908 or get your instant rate quote here.
Imagine The Possibilities With Your Better Home Loan!
*By refinancing, your total finance charge could be higher over the life of the loan.
**As a member of the AmeriHome family, borrowers are part of the AmeriWallet Rewards program. If you completed a home loan with us once, you will qualify for a $750 lender credit for all of your future refinances or home purchases done with AmeriHome, for any property you own. To qualify for this offer, you must have previously financed the purchase of a home or refinanced with AmeriHome. You have financed with AmeriHome when AmeriHome Mortgage Company, LLC appears on the previous Promissory Note for your loan, and you are listed as a borrower on the Note. Credits will be applied only if your loan closes with AmeriHome. This offer can not be combined with any other offers and is not applicable for FHA Streamline, or VA IRRRL Refinance transactions. Other restrictions may apply. Terms and conditions are subject to change. AmeriWallet Rewards program is subject to termination without notice.
