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Three Ways to Save
Use it to lower your rate . . .
One discount point (1%) lowers your rate around .375% on average - permanently - on a 30 year loan.
Use it to reduce upfront closing costs . . .
Apply it to closing costs and bring thousands less to closing.
Use it for lower payments . . .
Buydown your rate temporarily a full percent in the first year of your loan and save big on payments.
Save even more?
Our lender credit doesn't count toward interested-party contribution limits and can be stacked with seller concessions!
* Offer valid for loans with rates locked-in between 11/1/23 and 12/31/23 in TN and MS for owner-occupying purchasers and is comprised of a 1% lender credit issued at closing which must be used toward applicable closing or loan related costs. Not available on loans using DPA Grants or on Non-Conforming Loans. All loans subject to qualification. Property insurance required.
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Refinance on us if rates drop!
If rates decrease by .50% or more within 5 years, we'll cover the usual third-party closing costs for refinancing such as appraisal, title search, closing agent fees and title insurance. We will also waive any fees we would charge. This offer can be used only once after six months of on-time payments have been made.
Terms and Conditions: 5 Year Free Refinance offer Valid for purchase mortgage customers refinancing conventional fixed rate primary residence loans obtained from Local Mortgage with refinance loans provided by Local Mortgage. Local Mortgage will pay borrower's traditional third-party closing costs for refinancing, excluding any amounts necessary for establishment of a new escrow account or interim interest. New interest rate must be 0.50% lower than original rate, must have made six (6) on-time payments and continue to occupy the property as a primary residence. Closing on refinance loan must occur no sooner than six (6) months and within five (5) years of the first payment date of existing loan. Subject to qualification for the refinance loan based on conventional lending guidelines in place at the time of application for refinancing. This benefit may be used one time per eligible borrower