An interest rate buydown, or step down payment as it is also called, changes with the current market rates. A type of buydown often used is the two-one payment, which means that you would pay above market rates at the beginning of the loan and on the later half, you would pay below the market rates. This can work extremely well if timed right. You can time it right by paying above market rates when the market percentages are very low, and then pay below when the market rates rise. Another form of buydown is the three-two-one buydown. This acts much like the two-one, but is a more gradual change. For more information on buydowns, contact your interest rate professionals Maryland Mortgage Specialists.com.

More Maryland Mortgage Specialists.com Interest Rates Information:

• Annual percentage rate (APR)
  
• Adjustable rate mortgages (ARM)
  
• Interest rate buydowns
  
• Graduated payment mortgage (GPM)
  
• Fixed rate mortgage
  

Maryland Mortgage Specialists.com - Home Information

Getting a loan is a very simple process with us. Whether you are refinancing or purchasing a new home all you need to do initially is send us two years of w2’s, one month of paystubs, and a copy of your homeowner’s insurance policy. We can then approve you for a loan. It is truly that simple. The mortgage broker will be impressed and have proven to him your ability and desire to pay the loan. For any further questions on what to send when you make contact with a loan officer, contact Maryland Mortgage Specialists.com.

Maryland Mortgage Specialists.com Featured Cities Real Estate Information

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