As affordability continues to present challenges to prospective homebuyers, adjustable-rate mortgages are often discussed as one solution. Peter Idziak has identified a lesser-known option gaining popularity with buyers and sellers: temporary buydowns.
Peter recently spoke with several leading industry publications to discuss buydowns and their resurgence in the market:
- Mortgage Professional America: Mortgage buydowns touted as reprieve from soaring rates
- Mortgage Professional America: Is this the saving grace amid rising mortgage rates?
- Mortgage News Network: Helping Buyers Ease Into Loans
- Mortgage News Network: How You Can Help Borrowers Ease Into Loans When The Market is All Shook Up?
“In speaking directly with clients recently, I have seen multiple lenders launch temporary buydown programs with builder partners, and many others begin to explore such programs,” Idziak said. “The goal of these programs are to make new construction homes more affordable to buyers by reducing their interest rates for the first few years of the loan.”