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Are you dreaming of a new home? Are you interested in building or buying a home that has just been built?
With higher mortgage interest rates and inflation, affordability is challenging. With Armed Forces Bank’s Rate Buydown Program, you can get into a home with a reduced payment for two years. For new home purchases, the builder or seller can contribute to the buydown fee putting a new construction within in reach.
A 2-1 buydown program offers a strategic financial solution for consumers building a new home. This program provides borrowers with temporary mortgage rate reductions during the initial years of the loan term, typically resulting in lower monthly payments early on. Such a structure is particularly helpful for homebuyers who want to build a new residence, as it eases the financial burden during the crucial initial phases of homeownership.
By effectively lowering the upfront costs associated with mortgage payments, a 2-1 buydown program empowers consumers to manage their finances more efficiently, allocate resources towards other aspects of the home-building process, and ultimately achieve their dream of owning a new home with greater ease and financial flexibility.
Our Armed Forces Loan Officers are some of the best in the business and they are here to guide you every step of the way. Plus, more than 80% of our Armed Forces Bank associates are affiliated with the military and our team has a deep understanding of the challenges of military life. Learn more about our home loan offerings or contact a loan officer today to learn more. You may also qualify for a VA loan. Use our VA Mortgage Calculator to see what you would pay.
Subject to credit approval. Fees apply.