Our goal is to help you reach your goals of homeownership. A 2-1 buydown mortgage is a type of loan that starts out with a lower interest rate and rises across the next year until it reaches its permanent rate. The interest rate is reduced by 2% in the first year and 1% in the second year. For example, a 5% mortgage would charge just 3% in year one. After the buydown period ends, the lender will charge the full interest rate for the remainder of the mortgage.
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