The 1-0 Temporary Buydown Rate Loan Program is a special financing option offered by Quintal Mortgage Co. This program allows borrowers to temporarily reduce their interest rate for the first year of their loan term.
With the 1-0 Temporary Buydown Rate Loan Program, borrowers can enjoy lower monthly payments during the first year of their loan. This can be especially beneficial for borrowers who are looking to save money during the initial stages of homeownership.
To take advantage of this program, Contact us to learn more. Our team of mortgage experts will guide borrowers through the application process and provide all the necessary information.
For more details about the 1-0 Temporary Buydown Rate Loan Program, please click Apply Now below to start process.
The 1-0 Temporary Buydown reduces the buyer’s interest rate by 1% for the first year of their loan.
EXAMPLE: $450,000 | Down payment: $90,000 | Loan amount: $360,000 | 30-year fixed rate: 6.5% | Annual percentage rate: 6.619%
| Effective Rate | P&I | Monthly savings | Total savings | |
|---|---|---|---|---|
| Yr 1 | 5.5% | $2,044.04 | $231.40 | $2,776.80 |
| Yr 2+ | 6.5% | $2,275.44 | $0 | $0 |
| Total savings and seller credit | $2,776.80 | |||
The sample rates provided are for illustration purposes only and are not intended to provide mortgage or other financial advice specific to the circumstances of any individual and should not be relied upon in that regard. Quintal Mortgage Co cannot predict where rates will be in the future. The payment example does not include assessments. Actual payment obligations may be greater and may vary. Mortgage Insurance Premium (MIP) is required for all FHA loans and Private Mortgage Insurance (PMI) is required for all conventional loans where the LTV is greater than 80%. Rate(s), APR(s) and payment info is valid as of 12/14/2022 and assumes a first lien position, 740 FICO score, 25-day rate lock, based on a single-family home. All terms are subject to change without notice. Loans are subject to underwriting guidelines and the applicant’s credit profiles, not all applicants will receive approval. Contact us Mortgage, LLC for more information. Available for conventional, FHA, VA, and USDA loans only. Equal Housing Opportunity. All loans subject to underwriting approval. Certain restrictions apply. Call for details.
Don't miss out on the opportunity to save money during the first year of your loan. Contact us today to learn more about the 1-0 Temporary Buydown Rate Loan Program and start your application process.