The 2-1 BUYDOWN OPTION is a unique offering that helps Clients reduce the burden of a rising interest rate environment. Through the use of seller concessions, this program helps Clients lock in a lower interest rate for the first two years of their mortgage, with rates reduced by 2% in the first year and 1% in the second year. After that, the interest rate resets to the original qualifying rate, making homeownership more affordable and accessible.

This program is available for both conventional primary and second home purchase transactions. To be eligible for the 2-1 BUYDOWN OPTION, Clients need a minimum FICO credit score of 620, and the program is available for standard balance and high balance loans. One to four-unit properties are also eligible for primary residence buyers, including SFR, condos, and PUDs.

For FHA owner-occupied purchase transactions, the minimum FICO score requirement for maximum LTV is 96.5%, while a minimum FICO score of 550 is required for LTVs up to 90%. Like the conventional loans, one to four-unit properties, including SFR, condos, and PUDs, are also eligible.

It’s important to note that the loan is qualified off the pre-buydown rate, giving Clients the peace of mind that they are qualified for the loan based on the original qualifying rate. This ensures that Clients are not over-extending themselves financially and are setting themselves up for long-term financial success.

If you’re looking to ease the burden of the higher interest-rate environment and make owning a home a reality, consider Blink Lending & Investments’ 2-1 BUYDOWN OPTION. Contact us today to learn more about this program.