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Everybody wants to pay a lower mortgage rate, but it comes with a cost. In today’s video, I'm going to define a 3-2-1 mortgage rate buydown and weigh the pros and cons of that kind of option. I touch on the upfront costs when people buy down their mortgage, consumer behavior with adjustable mortgage rates, why it’s important to stick to your home budget when perusing the housing market, and why a fixed-rate mortgage payment might be best for some prospective homebuyers.
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Thanks for watching!
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Timestamps:
Intro (0:00)
What’s a 3-2-1 Buydown Mortgage? (0:39)
Positives of a Buydown (2:22)
Cons of a Mortgage Buydown (3:42)
Is a 3-2-1 Buydown a Good Deal? (7:21)
Questions? Get in Touch! (10:07)
Matt The Mortgage Guy School 🏫
Enroll in the Mortgage 101 course to get a behind-the-scenes look at what you need to know about the mortgage and buying process. Put aside what marketers tell you and get the TRUTH about mortgages inside this video course.
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