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Home Buyer: How You Can Get into a New Home at a Lower Interest Rate
and a Lower Monthly Payment

Today, real estate is a buyer’s market which is good news for you, of course, when you’re looking to get into that new home. Prices are good, and there are plenty of homes available.

Still, the monthly payment may be too high for you. If this is the case, there’s a tried-and-true method available to solve that problem for you.

It’s called the EZ Start Program and it suits today’s real estate market very well.

Here’s how it works: For a small fee paid by the seller, the lender lowers the interest rate for you in a stair-step fashion for one to three years. And it’s done in this fashion:

In the first year of the mortgage, the interest rate is 2 percentage points below market.

In the second year, the interest rate rises to 1 percentage point below the rate at the time the loan was made.

After two years, the rate rises to the original interest rate for the life of the mortgage.

As you can see, this method leaves more money in your pocket those first two years of the loan. But those aren’t the only benefits you receive from the program.

All of the mortgages in this program are fixed-rate, 30-year mortgages. For you, this brings the security of knowing exactly what your interest rate will be for the life of the loan. You won’t experience any of the “sticker shock” that comes with Adjustable Rate Mortgages (ARMs).

And here’s another advantage you’ll appreciate – FHA, VA, and Fannie Mae all participate with my EZ Start Program. This means you have several channels through which to obtain that mortgage, making it easier to get a loan.

Below is an example to demonstrate specifically, how the EZ Start Program works for you:

Let's assume that the seller has a $165,000 asking price on their home. Let’s also assume that you put up $16,500 in cash as a down payment. This means that you would then have to finance $148,500. At 6 percent, the payment for principal and interest would be $890 a month.

But, let’s assume that the seller agrees to pay the cost of the EZ Start Program. That means your monthly principal and interest payment at 4 percent for the first year would be $709. This is a difference of $181 a month or $2,172 a year.

In the second year, the payment would rise to $797, but that's still a savings of $93 a month or $1,116 for the entire year.

In the third year, the payment would go back to the origianl $890 for the remainder of the loan. However, over the two years, your total savings is $3,288!

So, as you can see, lowering the interest rate is to the advantage of both you and the seller.

For example, assume that the seller decides to cut the asking price by $4000 (the cost approximate cost of participating in the program). The monthly payment at 6 percent would be $869. That means there’s only a $21 monthly savings versus the $181 in savings from EZ Start.

Now you still have to qualify for the loan at the $890, but a $3288 savings over two years is a lot! In fact, it would take you 13 years of saving $21 per month to equal the savings of that two years.

So, as you can see, the EZ Start Program has distinct advantages for you. You get the home you want faster and at a lower monthly payment for the first two years. You have several different channels through which to obtain a loan. And you have the security of a fixed interest rate for the life of the loan.

I hope you’ve found the information in this free report valuable. To learn more about the 2-1 Buy-Down program, please contact us at 972-529-2178.

We’re looking forward to getting you into your new home!

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