2-1 buydown
2-1 buydown mortgage programs in Wayne County
A 2-1 buydown temporarily reduces the payment in year one and year two, then the note rate takes over. Sellers, builders, or lenders sometimes fund it. It is a cash-to-close and payment-path decision, not free money. Most overlays still qualify you at the full note rate.
Who this may fit
Purchase borrowers who can qualify at the note rate and want a lower payment for the first two years.
Why borrowers use it
- Qualify at the note rate — the buydown is a subsidy, not a different credit box
- Useful when a seller credit can be applied to the buydown instead of price
- Compare against using the same credit to buy the rate down permanently
- Available through some West Capital investors on eligible files
Things to watch
If you only qualify at the year-one payment, this is the wrong tool. Most overlays still qualify you at the full note rate.
Documents commonly needed
- Purchase contract and seller-credit language if applicable
- Standard income and asset documents
Why work with Brad on 2-1 buydown
A 2-1 buydown is a use of seller credit, not free money. Brad compares the same dollars as a temporary buydown vs. a permanent rate buy-down so you pick the path that matches how long you will keep the loan.
Next step
Call or text (248) 408-3855 with the property and your income type. Brad can help you review whether 2-1 buydown programs may fit — subject to program requirements — or which related option to compare. You can also start a secure application or read how pre-approval works.