Lenders and Real Estate Professionals
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Information for Single-Family Lending and Real Estate Professionals
Program Announcement
April 25, 2023
Permanent Rate Buydown Update
Dear Lending Partners,
Just a reminder… Although not reflected on the rate sheet, a permanent buydown on our Home Advantage loans may be requested. If your borrower has extra funds from seller contributions available, you may want to consider a permanent interest rate buydown to achieve a lower interest rate for the life of the loan. Downpayment assistance funds cannot be used to pay the buydown costs.
PLEASE NOTE: If not requested on the day of reservation, a permanent rate buydown request on a Home Advantage first mortgage program loan may be allowed up to 2 business days from loan reservation. Once a loan has been reserved/locked the loan is being hedged and permanent rate buydown requests cannot be honored after 2 business days have passed from date of reservation.
Please complete this form to request a pricing quote for an available Home Advantage program option. If you have any questions, email our Lockdesk.
If you have additional questions, please email Corinna Obar.