CBC Adds Rate Buydowns To Its FHA DPA Program
CBC Mortgage Agency introduced temporary rate buydowns to its down payment assistance program for FHA first mortgage financing, the lender announced in a press release.
Borrowers have access to either a 2-1 or 1-0 buydown, easing the financial burden on first-time buyers for the first few years of homeownership.
“The addition of a 2-1 and a 1-0 buydown feature is CBC Mortgage Agency’s continued response to the ongoing effect of the higher interest rates,” said Cari Zwick, National Program Director. “We’ve had a lot of requests for a buydown feature, and we hope it provides some relief to buyers during the current state of the housing market.”
This feature comes just weeks after CBC lowered the interest rate on its…