Unlock the borrowing potential for your clients while expanding your pipeline with our Non-QM Buydowns!
Non-QM buydowns (available on TRID loans only) give borrowers a reprieve from a higher rate during the first two years of their loan, plus gives you the ability to reach more clients.
Program Highlights
30 year fixed rate only, available on TRID loans only
Allowed on Primary Residence, Investment and Second Homes
Purchase transactions only, not permitted on refinances
Permitted on 2-4 Unit Single Family Residence, PUD Condo
Available on Full Doc and Alt Doc Income Types
Seller/Builder paid only
Standard Interested Party Contribution guidelines apply
Not available on DSCR Loans.
2-1 Buydown:
24 month term
Initial interest rate is temporarily reduced by no more than two (2) percent below the note rate for year one (1) and reduced by no more than one (1) percent below the note rate for year two (2). The non-reduced note rate applies for years three (3) through thirty (30).
1-0 Buydown:
12 month Term
Initial interest rate is temporarily reduced by no more than one (1) percent below the note rate with the non-reduced note rate applying for years two (2) through thirty (30).
Contact Your Account Executive for more information.
