Buy-Down Incentives Growing More Sophisticated

Home Loans

Buy-Down Incentives Growing More Sophisticated
(presented by www.refinance-refinance.net - mortgage lenders)

By G. Mundy

When the housing market began to flatten, the first group of sellers to offer concessions and incentives was the developers and builders with large inventories of unsold housing. Upgraded kitchens, landscaping and even cash back were some of the enticements being offered in new developments. Now, individual home sellers are getting into the incentive game with assists from lenders.

One such incentive is the buy-down, in which sellers pay up-front payments to reduce buyers’ mortgage rates. Buy-downs have been popular with developers because they enable the builders to offer savings without actually lowering their list prices. That has the negative impact of lowering market rates for new homes

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