Interest Rate Buy Down Mortgage
In an interest rate buy down mortgage the interest rate is reduced for the first 2 years of the mortgage then slowly grows to the final interest rate. The reduction that takes place in a 2-1 buy down is 2% less than the final mortgage rate for the first year and a reduction of 1% for the second year. By the third year the interest rate returns to the final rate for the remaining years.
The 3-2-1 buy down is another variation on the 2-1 buy down and works in the same way but the reduction lasts for a longer period of time. Buydown mortgages can reduce the amount paid by the borrower on a monthly basis but the payments will increase when the period of reduction ends. Contact your Woodland Hills home loan advisor at Home Savings Mortgage to discuss your buydown options further.
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First Time Buyer Loans
Many people dream of owning a home in the Woodland Hills area but the home loan process can be confusing for many first time home buyers. Home Savings Mortgage's mortgage brokers offer first time buyers with many home loan options and assists the buyers in finding the best home loan for them. First time home buyer programs can offer lower interest rates, low down payments, or reduced taxes. Contact your Woodland Hills mortgage broker to discuss the details of each Woodland Hills home loan option and begin to realize your dream of home ownership in the San Fernando Valley.
Woodland Hills Real Estate Information
At Home Savings Mortgage we offer real estate information in Woodland Hills and many nearby cities. Below is a brief list of some key areas where we offer our services, please browse through the information given about the areas to help guide you in finding a great location. If the area you are currently searching for is not listed below, then please contact one of our mortgage and real estate professionals today at 818.445.4241.
