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2-1 Buydown Explained (Part 3) "What it is. What it is not." If you opt for a 2-1 buydown, that means that as a buyer, your interest rate is reduced by 2% the first year and 1% the second year. By the third year of the mortgage term, the interest rate goes back to the original interest rate on the loan. This can be achieved similarly to “Seller Paid Closing Costs”. DM for more info! | True Homes | Facebook
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