The Ross Rate Reducer lowers your interest rate for the first year, reducing your monthly mortgage payments. After the first 12 months, your rate returns to the original locked-in rate. For example, if your standard rate is 6.5%, a one-year buydown could lower it to 5.5% in the first year, giving you time to adjust financially while settling into your new home.
Here's why the Ross Rate Reducer is so attractive in today's market
Lower Payments Now:
With rates higher than they've been in recent years, a one-year buydown
Flexibility to Refinance:
Many experts expect interest rates to drop soon. With a one-year buydown, you may be able to refinance into a lower rate before your mortgage returns to the higher rate.
Ross Mortgage will credit the buydown interest at closing eliminating this cost for the borrower.
