Housing Wire

AUGUST 17, 2022

United Wholesale Mortgage (UWM) this week launched temporary rate buydowns, a product that allows borrowers to receive lower mortgage rates at the beginning of their loan terms by using seller concessions as part of the payment.

Seller concession 410

Seller concession Mortgages Fixed-rate mortgage Loans 410

Housing Wire

NOVEMBER 16, 2022

The temporarily lower rate is made possible by a lump sum that is deposited into a buydown account. With the seller-paid version, seller concessions, which are closing costs the seller agrees to pay, are deposited as a lump sum into the buydown account. Presented by: Flagstar.

Seller concession 384

Seller concession Mortgages Fixed-rate mortgage Loans 384

Housing Wire

SEPTEMBER 16, 2022

For Rocket Pro TPO, home sellers or real estate agents will be funding the program, similar to a buydown program rival United Wholesale Mortgage launched last month. UWM announced that its temporary rate buydowns – fueled by seller concessions – would reduce borrowers’ interest rates by up to 2% for the first two years of a mortgage.

Mortgages 397

Mortgages Seller concession Fixed-rate mortgage Loans 397

HomeLight

MAY 31, 2022

Interest rates on 30-year fixed-rate mortgages reached their highest since April 2020. Nevertheless, despite rising interest rates and creeping inflation, the housing market continues to enjoy favorable pricing, largely due to low inventory. Seller concessions: Incentives to encourage buyers to close the deal.

Seller concession 122

Seller concession Closing costs Staging Sales 122

HomeLight

AUGUST 25, 2020

If you have a mortgage on your home, your housing payment will be the same every month — but in the first couple of years, the vast majority of that overall payment will likely go toward interest and will barely touch the principal balance. A possible second set of closing costs if buying a new home. Overlap costs (1% – 2%).

Principal 69

Principal Equity Seller concession Title 69