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
Interest rate buydowns involve a trade-off between upfront costs and long-term affordability. Clever CEO Luke Babich offers strategies to help clients make the choice
The lender's new RateReduce Sell program allows sellers to pay points to lock in a discounted mortgage rate that their real estate agent can cite in co-branded marketing materials
While mortgage rates have eased and home prices have fallen in many markets, affordability still has a 'stranglehold on much of the market,' according to research released by Black Knight
Rocket, Guild and UWM are among lenders providing homebuyers with options, such as temporary rate buydowns and reduced fees on refis if rates come down from 2022 peaks