Yes. Unused buydown funds are credited back if you refinance during the two-year period. Selling triggers the same refund. If you hold the loan through the full two years, there is nothing left to refund because it was already applied to your payments.
Full breakdown: 2-1 Buydown vs. Permanent Buydown: Which Is Better in Utah? · Utah Builder Incentives Explained
Usually yes, at least in part. Most Utah builders make the incentive conditional on financing through their preferred lender. Ask the builder directly whether any portion of the incentive survives with an outside lender, because a few will negotiate on that. Full breakdown: Do I Have to Use the Builder’s Preferred Lender in Utah? ·…
It changes from week to week. Some builders carry more inventory under $450,000 than others at any given moment, and homes priced under that line come and go as fast as they’re built and sold. Right now, the Utah County builders with homes priced under $450,000 include Arive Homes, Century Communities, DR Horton, Edge Homes,…
No. You can use any lender you choose. Most Utah builders tie their incentive — the rate buydown or closing cost credit — to their preferred lender, so using an outside lender often means giving up that incentive. Have your own lender review the builder’s loan estimate rather than trying to replace it; five to…
A 7/6 ARM is an interest rate structure where the rate stays fixed for seven years, then adjusts every six months after that, based on whatever index it’s tied to. Rates could go up or down from there, depending on where the market moves. Most 7/6 ARMs also carry a maximum and minimum rate cap,…
A permanent buydown does, because it lowers the note rate the lender qualifies you on. A 2-1 buydown does not. Utah lenders underwrite you at the full note rate regardless of the temporary discount. Full breakdown: 2-1 Buydown vs. Permanent Buydown: Which Is Better in Utah? · Utah Builder Incentives Explained
Your payment rises to the full note rate starting in year three, and stays there. There is no further adjustment or step-up. Make sure the year-three payment is one you are comfortable with, because that is the real payment. Full breakdown: 2-1 Buydown vs. Permanent Buydown: Which Is Better in Utah? · Utah Builder Incentives…