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Affordability

Home Buyers: (see videos #1 & #2) ➡️

We understand the importance of making homeownership both affordable and accessible. We achieve this through our flexible, temporary buydown programs, which help lower mortgage payments in the initial years, providing immediate financial relief and making budgeting easier.

  • 1/1 Buydown: With a 1/1 buydown, the interest rate is reduced by 1% for the first year of the mortgage. After the first year, it returns to the standard fixed rate for the remainder of the loan term.
  • 2/1 Buydown: In a 2/1 buydown, the interest rate is lowered by 2% in the first year and 1% in the second year before adjusting to the standard rate in the third year.
  • 3/2/1 Buydown: The 3/2/1 buydown offers the most gradual adjustment, with the interest rate reduced by 3% in the first year, 2% in the second year, and 1% in the third year. From the fourth year onward, the rate returns to the standard fixed rate.

These buydown options allow buyers to choose the plan that best fits their financial needs. By reducing initial mortgage payments, these programs make homeownership more attainable upfront. Additionally, they offer the potential to refinance if mortgage rates decrease, ensuring long-term financial stability and savings.

How Does a Buydown Work: (see video #3) ➡️

A buydown works by setting aside funds into an escrow account at the time of closing. The funds can be allocated from several different sources. These funds subsidize the borrower's monthly mortgage payments during the buydown period. Essentially, the lender temporarily reduces the interest rate by applying the escrowed funds to cover the difference between the standard payment and the reduced payment. This allows the borrower to enjoy lower monthly payments in the initial years of the mortgage, making homeownership more affordable upfront. Once the buydown period ends, the interest rate reverts to the standard rate, and the borrower resumes making regular payments.

Fun fact!

Did you know that if you refinance to a lower rate in the future or decide to sell your home before your temporary buydown period ends, you won’t lose the remaining funds? Instead, those funds will be applied directly to your outstanding balance, reducing your payoff balance.

It’s a win-win situation that offers flexibility and ensures you get the full benefit of your temporary buydown, whether you stay in the home or move on to your next adventure.

Realtors: (see all videos) ➡️

This program is a powerful tool for attracting and assisting potential homebuyers who might be concerned about current mortgage rates. By offering a 2/1 temporary buydown and other buydown options, you can show your clients a clear path to affordable homeownership, easing their concerns and helping them secure their dream home.

This program boosts your sales and builds trust and confidence with your clients, knowing they have a financial strategy in place that adapts to changing market conditions.

If you have any questions or need more information, please don't hesitate to Contact Us. We're here to help you every step of the way!

Ready to start your home journey? Click Here to submit your loan application today!

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Reviews

"Level of communication, the commitment to make it work, effort to help, make you feel so comfortable throughout the whole process. His personality. I’ve have never talked to any business owner that make you feel they’re really trying to help you till I met ken clark jr. can’t put in words how grateful i am. "

r&r

"“Working with Ken Clark and his #championofloans team was truly life-changing! As first-time homebuyers, we were both excited and overwhelmed by the process. But from day one, Ken and his team treated us like family—patiently explaining every step, answering every question (no matter how small), and constantly cheering us on. Their dedication and empathy eased our anxieties and turned a complicated process into a wonderful experience. When we finally held the keys to our first home, we couldn’t hold back our tears of joy. We are forever grateful to Ken and his #championofloans team for helping us achieve this dream. Five stars isn’t enough to express our gratitude!”"

nicole

"I share the same thoughts about Ken as my husband Ross Vocaturo. Highly recommend Ken to anyone who wants the best results when buying a home. You will be in the best hands & he will make the process for you effortlessly. Very pleasant to work with. He will look out for your best interest always."

patricia vocaturo

"Ken & his team were very professional, organized, reliable, informative. Ken guided me thru every step of the way, always willing to explain anything to make the process go smoothly & without obstacles. He always made time for me no matter how busy he was, any time day or night. Highly recommend him. You will be in excellent hands."

ross v v

"I wanted to take a moment to express my sincere gratitude for all your support throughout the home-buying process. From the initial application to closing, your prompt responses to my questions, guidance through each step, and the clear communication about my options were invaluable. I truly appreciate the professionalism and care you brought to every interaction, and I’m thrilled with the outcome. Thanks to your help, I’m now in my new home, and I couldn’t be happier. I’ll be sure to recommend your services to anyone I know who is looking for a mortgage. Thank you again for all your hard work!"

sunny nguyen

"The best place to get your mortgage rate from, they have great customer service and very professional and patient with people. Ken is so so sweet the way how he talks to people, he is very knowledgeable about everything thanks Ken for helping me out with getting me my new home."

judy towns

"From the perspective of a Realtor, Ken was excellent to work with. I never had a call go unreturned, an email not responded to, and my client never had a question unanswered. Ken took great care of her, and clearly puts a lot of time and effort into his work. If I could give 10 stars I would! I recommend anyone looking for a dedicated and knowledgeable Loan Officer to give Ken & his team a call!"

matthew uhr

"Ken was great to work with, He was very informative, he explained the whole process from beginning to end, made the whole process stress free and if we had any questions ken always answered your called or called you right back.. GREAT JOB KEN I REALLY APPRECIATE EVERYTHING."

daniel m

"Ken is skilled, knowledgeable, and very experienced. He kept us updated throughout the whole entire process of us purchasing our home. You call, he answers. He explained every little detail to have you understand the full process. He puts his clients first. Ken thank you for everything you’ve done for us and our family. If anyone is looking to buy a home and needs a great lender We highly recommend Ken."

emylisa montanez