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to my website dedicated to 3-2-1 temporary buydown program in Hawaii. If you're considering purchasing a new home in Hawaii, I can help you explore your financing options, including the 3-2-1 buydown program, which makes financing affordable for Hawaii home buyers.
Buy your dream home in Hawaii with the 3-2-1 temporary buydown program which makes financing affordable for Hawaii home buyers. Purchase your new home with the 3-2-1 buydown to make your mortgage payment more affordable. Let me help you with the financing of your new home in Hawaii.
The 3-2-1 temporary buydown program enables borrowers to lower their interest rate for the first 12 to 36 months (1 to 3 years) of their mortgage. This creates affordability in a high interest rate environment. Borrowers can now pay as low as 3% below their qualifying interest rate which, allows for a lower monthly mortgage payment. This is a great way for borrower to use any extra seller concessions that often go unutilized.
The 3-2-1 temporary interest rate buydown can only be used on purchase transactions. Seller concessions can be used to pay the upfront fee with a seller-paid temporary rate buydown. The lender can also pay the temporary rate buydown utilizing Loan Level Price Adjustments (LLPA). This is a great opportunity to help sellers get their properties sold without affecting the sales price. With the rising interest rate environment, sellers love this product. The benefits goes directly to the borrower.
Purchase transactions only.
Conventional: 3%-5% down payment (depending on the conventional loan product)
FHA: 3.5% down payment
VA: 0% down payment
Here's an example of how your payments will be affected using the temporary rate buydown.
The fee seller pays is equal to your annual savings for the three, two, or one year.
Loan Amount: $300,000 / Interest Rate: 5% / Principle and Interest Payment: $1,879
YEAR INTEREST RATE PAYMENT MONTHLY DIFFERENCE ANNUAL SAVINGS
1 2% (5% - 3%) $1,294 $1,879 - $1,294 = $585 $7,020
2 3% (5% - 2%) $1,476 $1,879 - $1,476 = $403 $4,836
3 4% (5% - 1%) $1,671 $1,879 - $1,671 = $208 $2,496
4-30 5% $1,879 $0 $0
BUYDOWN AMOUNT $14,352
No. Pre-payment penalty is not allowed on this loan.
Maximum loan amount is Hawaii's conforming loan limit of $1,089,300
By clicking the APPLY button, you will be directed to my secure loan application. You will be asked for your First and last name, email address and to choose a password for your secure account.
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