Last Updated: April 2024

*Must contract after 5/1/2024 and before 6/1/2024.

This disclosure, based on the hypothetical assumption of a conventional 30-year loan amounting to $960,000, illustrates a simple interest rate reduction. It assumes a theoretical 20% down payment on a $1,200,000 property, a 30-year loan duration, and a post-buydown monthly mortgage obligation of $6,228. While omitting particular charges such as up-front mortgage insurance premiums and intricate details of monthly payment components, it incorporates assumptions of $15,000 in annual taxes, $1,200 for yearly insurance, and the absence of any HOA fees. The specifics regarding the process and expenses linked to the rate buydown are not elaborated upon. Additionally, this summary acknowledges the effect of the rate modification on the total loan cost, deliberately excluding further fees or premiums associated with FHA, VA loans, or alternate insurances, without guaranteeing specific financial outcomes. Designed for informational purposes, this summary emphasizes the scenario's hypothetical foundation and its dependency on certain presumptions.

All terms and conditions subject to credit approval, market conditions, and availability. Seller incentives will be offered for buyer to use towards paying closing costs and/or the cost of the buydown. The seller incentive amount and buydown cost will vary based on the specific property and situation, and will be disclosed in the sales contract/addendum. Maximum contribution limits will apply. Not all borrowers will qualify for said rate. Rate is not applicable for all credit profiles. Restrictions apply.