Temporary Rate Buydown

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Elite Financial Mortgage offers Temporary Rate Buydowns to help borrowers lower their interest rate for the first 12 to 36 months of their mortgage. 


What? Seller concessions can be used to pay the upfront fee with a seller-paid temporary rate buydown. A lender-paid LLPA option can be used to cover the buydown cost on a lender-paid temporary rate buydown. 

Who?  Borrowers who have seller concessions or would like to have a lower interest rate in the beginning of their mortgage for a lower monthly payment. The borrower must qualify with the initial note rate.  


  • Purchases only
  • Eligible Products:
    • Conventional fixed and ARMs
      • Primary and second homes only
    • Jumbo 30-Year Fixed
      • Primary and second homes only
    • Bank Statement 30-Year Fixed
      • Primary and second homes only
    • FHA and VA
      • Primary homes only
    • No USDA products
    • Not available on manufactured homes
  • Buydown Options: 3-2-1, 2-1, 1-1 and 1-0 tiers


  • Great opportunity to help sellers get a property sold without affecting the sales price. Great option for when interest rates are high. The benefit goes directly to the borrower
  • A great way for borrowers to use any excess seller concessions that often go unutilized A lower interest rate for the first 1-3 years allowing the borrower to have a lower monthly payment
  • Borrower can use the monthly savings to do renovations, upgrades, or buy furniture for the new home
  • In a high interest rate environment, borrowers will more than likely be able to refinance to a lower rate than the one they will adjust to after the 1-3 years
  • Easier transition from renting to buying by easing the borrower into their mortgage with a lower payment

For more information on the great option email: info@elitefin.net or call 505-855-5626

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