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Sidestep Current Rising Interest Rates with Bell’s 2-1 Buydown
Higher interest rates are taking many buyers out of the current market. This means there are more homes up for grabs — sellers are lowering their prices or offering concessions to get their houses sold. We have a program that does just that called 2-1 Buydown. See details inside.
2-1 BUYDOWN PROGRAM DETAILS
In simple terms, our 2-1 Buydown program is a way for sellers to make their house more attractive to buyers. It reduces the buyer’s interest rate by 2% for the first year of their mortgage and 1% the second year. In the third year, the buyers are back to the note rate, but by this time they may be ready to refinance or make higher payments.
PROGRAM BENEFITS:
• Can assist buyers who are on the fence
• Doesn’t impact your selling price
• Helps your house stand out
Take step
Schedule Your Yearly Mortgage Checkup
A lot can change in one year. Especially in the world of real estate. Getting a periodic checkup for your mortgage can make sure you still have a loan that makes sense for your situation. Things you can reevaluate:
Interest Rate – Rates are constantly changing. Have they gone up or down since you purchased? Could you qualify for a lower rate based on your finances?
Financial Situation – If you’ve gotten a raise or switched jobs since you bought your house, you may want to make higher payments to shorten your loan term. Or, maybe you want lower payments. If your credit score has improved you may be able to pay less per month.
Future Plans – Maybe your family is growing, or you want to move to a new home or even build one that better fits your needs. A mortgage checkup can be a great time to plan for what’s next.
Reach out to me today to schedule your mortgage checkup.
IS IT A BUYER’S MARKET OR SELLER’S MARKET?
Short answer? In most cases it’s a seller’s market. This is because the available inventory is still below buyer demand. That said, the market looks very different from one city to another, and even across different price points and categories within the same areas.
Our Bell Bank Mortgage team specializes in understanding our local markets. Reach out to us for more information.
