The 2/1 buy down program has recently become available during this high interest rate environment. This program provides a lower interest rate when you start off with the loan, resulting in a lower monthly mortgage payment. A lower monthly mortgage payment can help you acquire your next house hack in your real estate investment portfolio more quickly.
To provide an easy example, if you qualify for a 6% interest rate, the interest rate in year 1 will be 4%, and in year 2 it will be 5%. After the second year, the interest rate on the loan will return to the original 6%.
The catch is that this program comes with higher upfront fees, which vary depending on the loan amount and the lender. If you need a recommendation for an investment-friendly lender, consider connecting with Troy Howell at Nova Home Loans.
Contact information for Troy Howell: