How Envoy Mortgage Makes Homeownership More Affordable

By Arizona Home Group

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Many homebuyers wait for mortgage rates to drop before buying their next home. But I’ve got some great news for you. I sat down with Matt Askland, one of our preferred lenders at Envoy Mortgage, to explain what’s going on with mortgage rates and how their rate buy-down program works. We also discussed why Phoenix buyers should take advantage of this opportunity.

What’s going on with mortgage rates? We’ve seen rates decline a bit for the past two years, which is good for homebuyers. Right now, rates are hovering in the upper to mid-6% range. But there are options to lower those rates and make homes more affordable. One of these options is Envoy Mortgage’s rate buy-down program which allows buyers to get lower rates and ease their monthly payments.

How does Envoy Mortgage’s buy-down program work? They will lower your interest rate by 1% for the first year, and you won’t need any seller concessions or your own cash to do that. There are no hidden fees, just a simple way to make buying a home more affordable. Plus, as far as I know, no other lenders are offering to pay for the buy-down like Envoy Mortgage.

Usually, a buy-down has a two-and-one structure. This means the rate decreases for two years. However, Envoy Mortgage offers a one-year buy-down that we fully cover. Many sellers are giving concessions right now, which could let you extend your buy-down for another year.

If you can secure seller concessions to cover your closing costs while we manage the buy-down, you might only need to bring your down payment. That means you’ll have extra cash for things like new furniture or home improvements.

This is an incredible opportunity for buyers in the Phoenix metro area. With over 25,000 homes on the market, it’s a true buyer’s market, so don’t let high mortgage rates hold you back. There are options available to make homeownership more affordable.

If you have any mortgage questions or are interested in Envoy Mortgage’s buy-down program, you can contact Matt at (602) 751-9508 or matthew.askland@envoymortgage.com, and he can help you get pre-qualified quickly. For other questions about real estate, call or email us at (602) 571-3730 or AHGadmin@gmail.com. We’re here to help.