They may be eligible for an appraisal waiver, allowing them to:
With a 3-2-1 buydown, your buyer’s interest rate would be reduced by 3% for the first year of their loan, 2% the second year and 1% the third year, before going back to the original locked rate from the fourth year on. That puts more money in their pocket for landscaping, moving expenses and more!
Seller concessions are closing costs that the seller has agreed to pay. Did you know they can be used toward a temporary rate buydown?