Combat Rising Interest Rates With A Rate Buy Down

No doubt you've been hearing in the news about rising interest rates. The Federal Reserve is indeed raising interest rates, but don't let that discourage you from your dreams of buying a new house this year. Soundbuilt and our preferred lenders have teamed up to create a rate buydown program; let's look at how this works and how it can help combat rising interest rates.

What Is A Mortgage Rate Buy Down?

A mortgage buydown offers the borrower a lower interest rate for the loan term than the one offered after completing the approval process in exchange for a small upfront fee. This fee, known as ​​mortgage points, is paid at closing. This means you’ll save money on your monthly payment and pay less interest over the life of your loan. Though a rate buy down could increase your closing costs, it’s important to note you may be able to write off the buydown mortgage costs on your taxes.

The Mortgage Buy Down Advantage

When you are thinking about doing a mortgage buy down, your credit score is not considered, making it available for everyone. Also, you will lower your monthly payments and your total interest rate by doing a mortgage buy-down.

For some buyers, the rate buydown of your mortgage can also help you qualify for a house you may otherwise not be able to afford.

Take Advantage Of Our Spring Promotion

We understand how rising interest rates can make a potential home buyer apprehensive. Therefore, Soundbuilt and our preferred lenders offer a special Spring Promotion to gift all buyers who purchase one of our quick delivery homes. This special promotion combats rising interest rates by offering buyers $10,000 toward their new home. In addition, our preferred lenders will pay 1% of your loan amount to buy down your interest rate noticeably.

This special spring promotion could help your rate drop to as low as 4.5% for those who qualify. However, it only applies to our VIP Priority members.

Your new home is still within reach! Contact us today about how we can help you make your new home dream a reality.

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