Joanna Howard

Sr. Residential Mortgage Consultant

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2/1 Buydown

What is a 2/1 buydown Loan Program is a mortgage program that offers a lower mortgage payment during the first two years of the loan term.   In the first year, the principal/Interest payment will be based 2% below the actual note rate you are qualified for today.  The P/I payment for the 2nd year will be 1% below the initial note rate.  The remainder of the term (once the 2 years are over) will be based on the actual note rate you qualified at.   This program is offered using seller concessions or even a builder to fund the buydown which is collected at closing.  It's like they are helping to make the mortgage payment for the first 2 years.  This program will save hundreds of dollars a month, especially while we are in a higher-rate market.  Making the mortgage more affordable.  Primary and 2nd homes only.

Qualify Rate 6%
1st year 4%
2nd Year 5%
3rd Year 6%

Contact Us

Joanna Howard -
Your Mortgage Girl For Life

10542 S Jordan Gateway #300
South Jordan, UT 84095
Phone: (801) 750-5373

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NMLS 668373
AZ License: 0924671
CA License: CA-DOC668373
TX License: 668373
UT License: 5499094
FL LO108882
Luneta Home Loans #2027806
Utah - 11992719/11992726