I'm seeing some clients seeking non-QM financing (ex. bank statement loan and DSCR) pause their pre-approval/home buying process simply due to the slightly higher interest rates associated with these loan programs. 

It's easy to get caught up on the interest rate when you're not considering the full scope of benefits that owning real estate allows. 

Anyway, a great solution to curbing these higher rates is to use a 2-1 buydown to help you secure a very competitive rate long enough for you to refinance once the rates inevitably come down. 

With a 2-1 buydown, your interest rate will be 2% lower for the first year of payments, and 1% lower for the second year of payments, then goes back to the normal note rate (by this time you'll refinance to a lower rate of course). 

Higher rates should not be an end all be all. 

One way to look at it is that mortgage interest is a huge tax deduction that can help you save thousands of dollars in taxes owed. 

Not to mention that the real estate market is poised to become competitive again soon (already is in some markets).  

Once the rates lower, the competition will increase again and inventory still remains low so prices are definitely not coming down anytime soon. 

If you have any questions on how to use a 2-1 buydown, feel free to send me an email, text, or give me a call and we can discuss how you can use it to give you the advantage you're looking for!

Looking forward to hearing from you soon!