BUYDOWN Loan
Buydown Loan
What is Buydown Loan?
Thinking about buying a home but worried about managing early expenses like small repairs or new appliances? With Tam Mortgage, you can start your homeownership journey smoothly, easing into your mortgage payments while handling those first-year costs with confidence.
Our Temporary Buydown Loan allows for reduced monthly payments during the first one to three years, with costs typically covered by the seller or builder as part of your negotiated loan terms. It’s our way of helping you feel comfortable and financially ready as you move into your new home. No hidden fees, just real savings and peace of mind.
Buydown Loan: Settle Into Your New Home with Ease
A buydown mortgage from Tam Mortgage gives you a chance to lower your monthly payments at the start of your loan. With a fixed-rate loan and flexible options, you can enjoy reduced payments during the first few years of your mortgage.
Choose from these buydown options:
- 1-0 Buydown: Your rate is 1% lower for the first year.
- 1-1-1 Buydown: Enjoy a 1% lower rate for the first three years.
- 2-1 Buydown: Your rate is 2% lower in year one and 1% lower in year two.
- 3-2-1 Buydown: Save with 3% lower in the first year, 2% in the second, and 1% in the third year.
These plans help you ease into your mortgage while freeing up cash for other important expenses or savings goals.
Benefits of a Buydown Mortgage
- Enjoy reduced monthly payments during the first years of your loan.
- Use your extra funds to cover home improvements, upgrades, or new furniture.
- Build your savings as you adjust to your new home.
Who Can Qualify for a Buydown Mortgage?
Tam Mortgage’s buydown options are designed to help homebuyers save when it matters most. Our expert loan officers will guide you through the qualification process and help determine if this mortgage option fits your goals.
Buydown Loan Options
We offer flexible loan choices to fit your needs:
- 30-year fixed-rate
- 15-year fixed-rate
- Available for Conventional, FHA, USDA, Pathway PLUS, Pathway 100, and VA loans
- Suitable for primary residences and second homes (depending on loan type)
- Adjustable-rate options available under certain conditions