More Temporary Buydown Options Now Available
Great News! GMFS has now released 2 NEW Temporary Buydown Options and they are now available!
Buydowns are available on conventional, FHA, VA, and USDA non-specialty 30 year fixed purchase loans.
Options include: 3/2/1 ; 2/1 ;1/1 or 1/0
- Not eligible on investment properties
- Minimum 640 FICO required on government loans
- Buydown funds must be paid by the seller
- Buydown must be reflected on the lock
- Buydown must be disclosed on the purchase agreement
- Separate buydown agreement must be signed by the borrower, seller, and lender
3/2/1 Buydowns are limited to Conventional ONLY and must have a 90% or lower LTV
Visit gmfspartners.com for updated Temporary Buydown Tools
Questions about Temporary Buydowns? Please email [email protected]