For the astute buyer, take advantage of this advantageous offer on this exceptional new home. The seller is willing to put a specified amount in an escrow account for the buyers use to buy down his mortgage rate 2 points the first year and one point the second year.
Based on a loan rate of 6.875%, this amount would be equal to a savings to the buyer of as much as $63,101.16. For example, the buyer would pay a rate of 4.875% in year one and 5.875% in year two, which would save him $41,733 in year one and $21,367 in year two. The sellers escrow account would be drawn upon to make up the difference in the monthly payment. This creative way of offering this substantial discount to the buyer would allow him to make significantly reduced mortgage payments during the first two years of residency, making it financially attractive to the buyer and helping to ease some of his financial burden in the first two years of the loan. For further information about this property priced at $3,890,000 or this offer call me or visit the website http://www.newcanaanexceptionalproperty.com/