| Primis Mortgage just started offering a new program through a partner called Genrae. I gotta tell you, its the first truly “new” product that I have seen from a lender in a long time. Basically, Genrae will buy your rate down substantially (they say close to 1.5% on average). In exchange, you pay a chunk (up to 2% per year) of the original price at whatever point you sell the house. At first this sounds a little scammy to be honest. But as you dig into the calculator, you see that you can save some serious money here. And, as long as the market is at least on the low end of normal, you can make money. It works best if you are at least 3 years in the house. I am not saying this product is for everyone, in fact, probably the opposite. You have to be comfortable with some risk and have a long enough time horizon in that house to compensate for a low market fluctuation. But, if you are planning to stay and ok with some risk, this is a great plan. It is certainly worth exploring. Call my friend, Bryan Nale for more info and to run the calculator with him. 615-243-3976 Here is the calculator btw https://genraecalculator.com/ |
