Birkdale at Lake Norman Buyers, Consider this Negotation Choice

Birkdale at Lake Norman Buyers, Consider this option when Buying You're Birkdale or Lake Norman Area Home!

I had a meeting with a lender this morning that has programs to offer that may lead to more options for purchasing your home.

This option consists a buydown of the interest rate that you will we paying on your mortgage. As a part of seller concessions that we can ask for, we can ask for this alternative. How does it help? You ask the seller to contribute funds to buydown the interest rate. For a period of time, this reduces the money out of your pocket. This is not an ARM. This is just a way to reduce the rate by 1-2% for a negotiated length of time. Think of the savings you will enjoy your mortgage.

Here is an example.

Suppose on a $240.000 mortgage where the seller agrees to contribute funds to do a 2/1 buydown of your interest rate. In the buy down scenario, the buyer saves $250.36 a month the first year and half that the second year. This is a total savings of roughly $4500.00.

Please keep in mind these are assumptions made on the loan which will ultimately be calculated by the lender. It also assumes the buyer can qualify.

This can be a win-win and a viable alternative to reducing your mortgage as well as giving the seller a viable alternative in the sale of their home.

For additional information on this or other programs, contact your Birkdale at Lake Norman Agent at 704 451 7051 or by email.

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