A 3-2-1 Buydown is a special tool that allows borrowers to temporarily lower their monthly payment for the first 3 years after they buy.
A 3-2-1 Buydown can be a useful tool for someone who is brand new in their career. It is good for someone who anticipates solid, steady gains in salary over the next few years!
If you have recently graduated from college and are just getting settled into a new career, but you have strong upward potential to be promoted to higher salaries over the next few years this tool can be very helpful in easing the pressure as you navigate all of the expenses associated with starting a new family.
You essentially bank part of the payments for the first 3 years at closing. This is then used to lower your payment initially and then step it up to the full payment over the first 3 years.
Avoid the stress of taking on big payment shock when you first buy a home. Instead, do what smart homebuyers do—use a 3-2-1 buydown to ease into the full payment over three years.
With our highly experienced team at Barrett Financial, we take a full application upfront to make the entire process smooth and stress-free.
Plus, we explain every step as it happens, so you’re always informed and know what to expect.
Let us help you transition into homeownership with confidence and peace of mind!
