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The 2-1 Buy Down & Other Loan Fads (Episode 81) S6 E6
Manage episode 336477016 series 2936153
Innhold levert av Tyler Cazier, Aric Wiszt, & Jason Christiansen, Tyler Cazier, Aric Wiszt, and Jason Christiansen. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Tyler Cazier, Aric Wiszt, & Jason Christiansen, Tyler Cazier, Aric Wiszt, and Jason Christiansen eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
You've heard of the 2-1 buy down, but what is it really? What about other loan options like discount points or a single MI pay down?
0:00 - Introduction
1:49 - 2-1 Buy Down. This is what it is and the calculations on how it works. The buy down is NOT paid by the buyer. 2% less rate first year. 1% less rate the second year. 3rd year is the normal rate. Buyer has to qualify for the loan at the regular rate. Be ready for not only the rate increase, but ALSO the escrow increases (taxes and insurance).
8:03 - Discount Points. 1 discount point costs 1% of the loan, reduces the rate by 1/4 point, and is a permanent reduction for the life of the loan.
10:54 - Single-Premium Mortgage Insurance. Pay it all at once, up front, you'll save a couple hundred dollars per month, and several years of mortgage insurance.
14:16 - What'd we learn today?
16:17 - Out Takes.
* No loan officer egos were harmed in the making of this video.
Please contact us to tell us you love us, you want to hire us! Call or text:
Realtors with Hive Collective at Presidio Real Estate:
Tyler Cazier: 801-210-0230
Aric Wiszt: 801-228-7687
Lender with Elite Team at Security Home Mortgage:
NMLS: 178787
Jason Christiansen: 801-669-7271
NMLS: 240472
A Production with Security Home Mortgage's Jason Christiansen, and Hive Collective at Presidio's Tyler Cazier and "Mr. Suit" Aric Wiszt.
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