Sellers Can Offer Interest Rate-Buydown To Help Sell
Selling Oakland Real Estate
You may be aware of the fact that you can buy down the interest rate from the lender, but did you know that it is possible for the seller to pay for the buyers interest rate buydown as well?
When the seller isn't willing to reduce the price, sometimes they may be willing to buy the interest rate down in order to allow the buyer to be able to qualify. So instead of the seller reducing the price, they offer to pay down a point or two on the buyers interest rate, therefore allowing them to be able to afford a bigger payment. Most times, this buy-down will cost the seller less overall than if they were to simply reduce the price by the amount needed for th buyer to be able to purchase.
Date: Monday, September, 24th 2007 @ 05:37:05 PMViews: 197
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