What is meant by a 3-2-1 Buy-Down Mortgage?

3-2-1 Buy-Down Mortgage permits a borrower to decrease the interest rate over the course of the first three years of the loan by making a prepayment. In general, 3-2-1 buy-down loans are only available for first and second homes, while investment properties are ineligible. The 3-2-1 buy-down is also not available as part of an … Read more