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Buy Your Dream Home:
Navigating the 3-2-1 Buydown Path 🌟🏡

In the prestigious community of Country Pointe Meadows in the heart of Suffolk County, owning a luxurious home like “The Eastbourne” or “The Devonshire” has become an achievable dream.

This article guides you through leveraging the 3-2-1 Buydown program on The Eastbourne 240 Bellmont Circle priced at $825,000* and The Devonshire 368 Wavell Ave priced at $815,000 offered by Beechwood Homes, Long Island’s premier lifestyle community builder.

📉 Understanding the 3-2-1 Buydown

The 3-2-1 Buydown isn’t just a mortgage option; it’s a strategic approach to homeownership:

Graduated Rate Reduction: This method temporarily lowers your mortgage interest rate for the first three years. Expect a 3% reduction in the first year, 2% in the second, and 1% in the third, before transitioning to the standard rate.

Immediate Financial Benefits: The initial years see significantly reduced rates, easing the financial burden as you settle into your new home.

Predictable Financial Future: Post the initial period, the rate reverts to the standard, allowing for long-term financial planning and stability.

Future Refinancing Potential: Ideally, mortgage interest rates will be lower at some point in the future and at that time, this strategy allows to comfortably refinance your mortgage at that time to enjoy the potential lower interest rate.

The 3-2-1 Buydown Explained

The 3-2-1 Buydown is a strategic approach to mortgage financing. It reduces the interest rate for the first three years of the loan term, easing the initial financial burden for homebuyers.

Year 1: Interest rate is reduced by 3%,
Year 2: Reduction of 2%,
Year 3: Reduction of 1%,
Year 4 onwards: Reverts to the standard rate.

Country Pointe Meadows - Yaphank - The Eastbourne - 9
The Eastbourne - Kitchen
The Eastbourne - Upstairs Den
The Eastbourne - Bedroom
The Eastbourne - Outdoor Patio
The Eastbourne - Loft
The Eastbourne - Dining Room & Living Room
The Eastbourne - Living Room
The Eastbourne - Master Bedroom
The Eastbourne - Master Bath
The Eastbourne - Hall Bath

Case Study: "The Eastbourne" Mortgage Breakdown 🏠

Let’s consider a real-life example to understand how this works for a loan amount of $536,250, which could be applicable for a property like “The Eastbourne.”

Understanding the Impact. Loan Details:

Loan Term: 30 Years | Total Loan Amount: $536,250 | Down Payment: 35% | Standard Interest Rate: 6.85% 

First Year (3.875% Rate)
  • Monthly Payment: $2,521.68
  • Monthly Savings: $1,001.10
  • Annual Savings: $12,013.25

Second Year (4.875% Rate)

  • Monthly Payment: $2,837.78
  • Monthly Savings: $685.00
  • Annual Savings: $8,219.99

Third Year (5.875% Rate)

  • Monthly Payment: $3,172.02
  • Monthly Savings: $350.76
  • Annual Savings: $4,209.06

Fourth Year Onwards (6.875% Rate)

  • Monthly Payment: $3,522.78
  • Monthly Savings: $0.00
  • Annual Savings: $0.00

Total Savings: $24,442.31

This case study highlights how the 3-2-1 Buydown eases the financial burden in the initial years of homeownership. It allows buyers to save significantly in the first three years.

Reach out to a sales consultant at Country Pointe Meadows today to speak with our preferred mortgage partner. Let’s make your dream home a reality.

*Disclaimer: Advertised rates are based on an indicative 3/2/1 buydown loan program and a sales price of $825,000.00 for the advertised home only. To qualify for such advertised rate, specific terms and conditions apply, and buyer eligibility is subject to qualifications that may include, but are not limited to, a minimum credit score, a minimum percent down payment, employment requirements, owner occupancy requirements and or any changes in investor guidelines or programs. Offer available through qualifying participating lender only and obtaining financing through such participating lender. Promotion valid for a limited time only and void where prohibited by law. Valid for new buyers that sign a purchase agreement and valid for a limited time only. Interest rate, APR (Annual Percentage Rate), closing and settlement costs, taxes, and insurance costs are subject to change without notice. Property insurance is required for all loans secured by property. Buyer responsible for full repayment of obligation as well as all other costs and fees associated with the loan. Additional restrictions may apply. Contact the sales team for more information and full terms and conditions.
Devonshire
Devonshire Finished Basement Wide Angle
Devonshire Finished Basement Pull Out Bed
Devonshire
Devonshire
Devonshire Finished Basement Media Room
Devonshire Finished Basement Pool Table
Devonshire
Devonshire
Devonshire
Devonshire
Devonshire

Case Study: "The Devonshire" Mortgage Breakdown 🏠

Let’s consider a real-life example to understand how this works for a loan amount of $567,000, which could be applicable for a property like “The Devonshire.”

Understanding the Impact. Loan Details:

Loan Term: 30 Years | Total Loan Amount: $567,000 | Down Payment: 35% | Standard Interest Rate: 6.875% 

First Year (3.875% Rate)

  • Monthly Payment: $2,663.55
  • Monthly Savings: $1,061.24
  • Annual Savings: $12,734.88

Second Year (4.875% Rate)

  • Monthly Payment: $2,997.78
  • Monthly Savings: $727.01
  • Annual Savings: $8,724.12

Third Year (5.875% Rate)

  • Monthly Payment: $3,351.19
  • Monthly Savings: $373.60
  • Annual Savings: $4,483.2

Fourth Year Onwards (6.875% Rate)

  • Monthly Payment: $3,724.79
  • Monthly Savings: $0.00
  • Annual Savings: $0.00

Total Savings: $25,942.20

This case study highlights how the 3-2-1 Buydown eases the financial burden in the initial years of homeownership. It allows buyers to save significantly in the first three years.

Reach out to a sales consultant at Country Pointe Meadows today to speak with our preferred mortgage partner. Let’s make your dream home a reality.

*Disclaimer: Advertised rates are based on an indicative 3/2/1 buydown loan program and a sales price of $825,000.00 for the advertised home only. To qualify for such advertised rate, specific terms and conditions apply, and buyer eligibility is subject to qualifications that may include, but are not limited to, a minimum credit score, a minimum percent down payment, employment requirements, owner occupancy requirements and or any changes in investor guidelines or programs. Offer available through qualifying participating lender only and obtaining financing through such participating lender. Promotion valid for a limited time only and void where prohibited by law. Valid for new buyers that sign a purchase agreement and valid for a limited time only. Interest rate, APR (Annual Percentage Rate), closing and settlement costs, taxes, and insurance costs are subject to change without notice. Property insurance is required for all loans secured by property. Buyer responsible for full repayment of obligation as well as all other costs and fees associated with the loan. Additional restrictions may apply. Contact the sales team for more information and full terms and conditions.

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