2-1 Buydown Loans, or Temporary Buydown Loans, offer lower interest rates for the first couple of years, smaller monthly payments, and more available cash to finance home projects or other expenses.
Buyers can use a 2-1 Buydown to reduce their interest rate for the first few years of their mortgage. For example, the buyer can lower the interest rate by 2% for the first year, by 1% for the second year, and then the interest rate will be at the contracted interest rate for the remaining term of the loan.
Certain restrictions apply on all programs. See your First Liberty Bank Loan Officer for complete program guidelines, loan application, applicable fees, and annual percentage rates (APR’s) for all loan programs. Full underwritten approval is required, and all loan approvals are subject to credit, income and asset review and approval.
Our online application makes it quick and easy to get started. We have experienced mortgage loan officers ready to help you make the best financial decisions for your unique situation.