How a Temporary Rate Buydown Can Help Lower House Payments

Orange County Register, Oct. 6, 2022–Jeff Lazerson
Mortgage lenders are bringing back a sometimes-popular loan program used in times of climbing interest rates. Called a 2-1 buydown or temporary buydown, it’s a way to lower interest rates and subsequently the buyers’ mortgage payment for the first two years — ideally at the seller’s expense. (MBA mention)