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Understanding Rate Buy Downs in Mortgage Lending with Seanna Cormier | Nitty Gritty of Real Estate
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Welcome to another episode of the Nitty Gritty of Real Estate podcast, where we unravel the complexities of mortgage lending and discuss the trending topics that homebuyers and sellers are buzzing about. In this informative session, we're joined by Seanna Cormier from Guild Mortgage, who sheds light on the often-confusing topic of mortgage buy downs.
What We Cover:
- What exactly is a buy down and how does it affect your interest rate?
- The real cost of points and how they translate to interest rates.
- Deciphering between temporary and permanent buy downs - which one is right for you?
- The importance of recapture rates and finding your break-even point in a buy down scenario.
- The role of seller concessions in reducing your interest rates without out-of-pocket expenses.
- How market predictions for 2024 could influence your decision on buy downs.
- Special considerations for teachers, military personnel, and others with predictable pay scale increases.
📊 Seanna Cormier brings her expertise to the table, explaining the nitty-gritty of buy downs in a way that's easy to understand. Whether you're a seasoned homeowner or a first-time buyer, this episode is packed with insights to help you navigate the current market shifts and make informed decisions about your mortgage.
This episode was cast with Seanna Cormier, NMLS # 1433188 of Guild Mortgage company LLC is an Equal Housing Lender, Company NMLS # 3274. Guild Mortgage is not affiliated with Keller Williams, Keller Williams Southern Arizona, The Tom J Krieger Team, or Jill Paddock. If you have any mortgage or lending questions feel free to reach out: Seanna- 520.820.0560 | scormier@guildmortgage.net
Have questions about this podcast, topics, real estate or getting your real estate license? Reach out to us! podcast@thetjkteam.com
Be sure to check out our website for more resources ⬇️
https://TheTJKTeam.com
Keller Williams Southern Arizona
7400 N Oracle Rd #331
Oro Valley, AZ 85704
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