Discover the Benefits of a 2 in 1 Buydown: Affordable Homeownership in Georgia
At Riz Communities and Development, we're always looking for innovative ways to make home buying more affordable for you. Today, we're highlighting the advantages of the "2 in 1 buydown," an effective strategy to reduce mortgage payments during the initial years of your home loan. This option is particularly appealing for our homebuyers in the Town Park and Village Green subdivisions.
What is a 2 in 1 Buydown?
The 2 in 1 buydown is a financial arrangement where the interest rate on your mortgage is reduced for the first two years. This reduction is facilitated by a cash deposit from the seller, which is used to 'buy down' the rate temporarily. This innovative program is compatible with Conventional, FHA, and VA loans, offering flexibility for various homebuyers. Visit Presidential Bank Mortgage to learn more.
Town Park Special Promotion
In Town Park Subdivision, the 2-1 buydown includes a $10,000 closing cost incentive. During the first year, the interest rate is 1% lower than the standard rate, at 5.75%. In the second year, it adjusts to 6.75%. From the third year onwards, the rate returns to the full note rate of 7.75%. This plan allows for initial payments as low as $2,384, providing significant early savings.
Village Green Temporary Buydown Offer
Village Green Subdivision takes the 2-1 buydown a step further with a $15,000 closing cost incentive. The first year offers an interest rate of 4.99% (2% lower than the note rate), and the second year at 5.99%. The rate from the third year is set at the full note rate of 6.99%. This makes the starting payments an attractive low of $1,771.
Comparing the Two Subdivisions
Both Town Park and Village Green offer their unique versions of the 2 in 1 buydown, designed to suit different financial situations and preferences. Town Park's plan is great for those seeking a balance in initial savings, while Village Green's plan is ideal for the lowest starting payments. Each subdivision has move in ready homes for sale and they feature distinct amenities and community attractions, making both great options for homebuyers.
This is a fantastic tool for reducing the financial burden in the early years of homeownership. With our tailored plans in Town Park and Village Green subdivisions, Riz Communities and Development is committed to helping you find a home that fits both your dreams and budget.
To learn more about the 2 in 1 buydown options or to explore our beautiful subdivisions, contact us today. We're excited to guide you through every step of owning your ideal home with Riz Communities and Development.