Buyers with poor credit who can’t get ideal mortgage terms (or a mortgage at all) have an unusual option at their disposal — one many buyers don’t know about: the ability to buy down a mortgage. With this option, buyers would receive a standard, 30-year home loan, but they’d pay the first three years worth of mortgage interest upfront. This guaranteed money for lenders gives them security, should those to borrowers default — and it gives buyers in weaker financial standing the chance to own their very own residence.

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