2 -1 Rate Buydown Program*
SAVE ON YOUR RATES!
HOW DOES IT WORK?
A 2-1 buydown mortgage lets you temporarily lower your interest (lower payments) during the first two years of homeownership for an upfront fee paid by McClintock Homes.
During the 1st year, you'll pay an interest rate that is 2% lower than the standard rate. In the 2nd year, your interest rate will be 1% lower than your standard rate. Once the first two years are up, you'll begin paying the standard interest rate on your mortgage.
WHAT DOES IT COST ME?
It doesn't cost you anything. McClintock Homes will pay the fee!
CAN I REFINANCE LATER?
YES! You can refinance with no prepayment penalties! And.....any unused amount in escrow from the 2-1 buydown fee can be used toward the principal reduction of your new loan!
Here's a couple of examples:
5.125% $1,551.79 $368.31
6.125% $1,731.69 $188.41
$300,000 HOME PURCHASE PRICE AT 7.373% APR
5.125% $1,810.42 $429.69
6.125% $2,020.31 $219.80
$350,000 HOME PURCHASE PRICE AT 7.373% APR
*Subject to credit approval. Information is subject to change without notice. This is not an offer for extension of credit or a commitment to lend. APR = Annual Percentage Rate. Rates effective 01/12/2023. Monthly payment is based on a 30 year term, conventional loan with 5% down payment. Monthly payment is based on principal and interest only and does not include insurance and taxes. For Select Homes Only. Special Financing offer is for a limited time only and can be terminated without notice.