okay we’ve all gotten used to the idea of a 3.5 30-year fixed and those days are gone at least for the at least for the foreseeable future but 6.75 kind of feels like a lot and yet we also such as interest rates are going up they’re probably going to go back down once the federal government gets inflation or control so what do you do well if you believe it’s going to happen sooner than later we might dust off this whole program called the 2-1 mortgage which kind of fell out of favor over the last few years um where you can actually pay a a fee and some money up front for the bank to lower your interest rate the first year by a full two percent and in the second year by one percent and then revert to the current interest rate currently 6.75 in year three now why would you do this well because the bet is well in the next two or two years or so interest rates will come back down and I can refinance they also have a three two one if you’re interested in a three-year window for those interest rates to change uh there is a fee associated with it depending on the house that you’re purchasing that can be a few that the seller pays for and that’s something that your agent will negotiate for you.

If this is interesting you have questions about it shoot me a DM give me a call whatever I’m happy to answer your questions connect with the loan officer who can get into the nitty gritty with you I think we’re going to see these things come back and it’ll be interesting to see what kind of tools what kind of a tool it provides us as we move into this next market I’ll talk to you soon