Last saved by: Lynn Marie Greaves

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																					<p style="margin: 0; text-align: left; mso-line-height-alt: 24px;"><span style="word-break: break-word; color: #16450e; font-size: 16px;"><strong><span style="word-break: break-word;">In This Issue:</span></strong></span></p>
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																						<li style="text-align: left;"><span style="word-break: break-word; color: #0d0f18; font-size: 12px;"><a href="#topic01" target="_self" style="text-decoration: underline; color: #16450e;"><span style="word-break: break-word;">Fed Meeting Causes Upheaval</span></a></span></li>
																						<li style="text-align: left;"><span style="word-break: break-word; font-size: 12px; color: #0d0f18;"><a href="#topic02" target="_self" style="text-decoration: underline; color: #16450e;">When Discount Points Make Sense</a></span></li>
																						<li style="text-align: left;"><span style="word-break: break-word; color: #16450e;"><a href="#topic03" target="_self" style="text-decoration: underline; color: #16450e;"><span style="word-break: break-word; font-size: 12px;"><span style="word-break: break-word;">What is a Temporary Buydown?</span></span></a></span></li>
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																		<p style="margin: 0; text-align: left; mso-line-height-alt: 24px;"><span style="word-break: break-word; color: #16450e; font-size: 16px;"><strong><span style="word-break: break-word;">Fed Meeting Causes Upheaval</span></strong></span></p>
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																<div class="fullWidth" style="max-width: 615px;"><img src="https://www.crm-newsletter.com/client-to-client/MMN/images/260801_feature-photo.png" style="display: block; height: auto; border: 0; width: 100%;" width="615" alt="Fed Meeting Causes Upheaval" title="Fed Meeting Causes Upheaval" height="auto"></div>
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																		<p style="margin: 0; mso-line-height-alt: 18px;"><span style="word-break: break-word; font-size: 12px; color: #0d0f18;"><strong>BENCHMARK RATE HOLDS: &nbsp;</strong></span><span style="word-break: break-word; font-size: 12px; color: #0d0f18;">The Federal Reserve’s July meeting left the benchmark interest rate at 3.50% to 3.75%, with three of the nine committee members calling for a rate hike. The lack of pre-meeting guidance from the Fed rattled Wall Street and the 30-year Treasury yield surged, pushing mortgage rates up. This may give prospective homebuyers more negotiating power if buyer demand slows down.</span></p>
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																					<p style="margin: 0; text-align: left; font-size: 12px; mso-line-height-alt: 24px;"><span style="word-break: break-word; color: #16450e; font-size: 16px;"><strong><span style="word-break: break-word;">When Discount Points Make Sense</span></strong></span></p>
																					<p style="margin: 0; text-align: left; font-size: 12px; mso-line-height-alt: 18px;">&nbsp;</p>
																					<p style="margin: 0; text-align: left; font-size: 12px; mso-line-height-alt: 18px;"><span style="word-break: break-word; color: #0d0f18; font-size: 12px;">Discount points are optional, and they function as prepaid interest payments to the lender. Buying points upfront permanently lowers the interest rate on a mortgage, thus reducing the monthly payment.&nbsp;<br><br>Each point costs 1% of the total loan amount. For example, if you have a $300,000 loan, then one point would cost $3,000. Each discount point purchased at closing may lower your interest rate by roughly .25%, depending on the lender and loan program. This can save thousands of dollars in interest payments over the life of the loan.<br><br><span style="word-break: break-word; color: #16450e;"><strong>How Long Will You Be in the Home?</strong></span><br>Buying discount points makes sense if you plan on staying in the home for an extended period of time. This gives you time to break even on the upfront cost of the points.</span></p>
																					<p style="margin: 0; text-align: left; font-size: 12px; mso-line-height-alt: 18px;"><span style="word-break: break-word; color: #0d0f18; font-size: 12px;"><br>Once you pass the break-even point, less of your monthly payment goes toward interest and more goes toward the principal balance, earning more equity.<br><br>Whether you're planning a home purchase or refinance, give me a call to find out if buying discount points will help you meet your goals.</span></p>
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																<div style="font-family:'Lato', Tahoma, Verdana, Segoe, sans-serif;text-align:center;" align="center"><div class="our-class"><a name="topic03"></a><br /> </div></div>
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																		<p style="margin: 0; font-size: 12px; mso-line-height-alt: 24px;"><span style="word-break: break-word; font-size: 16px; color: #16450e;"><strong>What is a Temporary Buydown?</strong></span></p>
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																		<p style="margin: 0; font-size: 12px; mso-line-height-alt: 18px;"><span style="word-break: break-word; font-size: 12px; color: #0d0f18;">Temporary buydowns are popular in today’s market, because they lower the monthly payment for a homebuyer for a set period of time, usually one to three years.<br><br><span style="word-break: break-word; color: #16450e;"><strong>How Does it Work?</strong></span><br>Funds for a temporary buydown are typically provided by a seller, builder, or lender. For example, a seller may offer a temporary buydown as a way to make their property more attractive to buyers, without lowering the asking price of the home.<br><br>The funds to cover the buydown are deposited upfront into an escrow account at the time of closing. Then, the loan servicer pulls money from that account to make up the difference for each monthly payment, according to the terms of the buydown agreement.<br><br>Let’s say the seller is offering a 3-2-1 buydown, and the buyer qualifies for a 30-year fixed-rate loan with a 6.5% interest rate. It may roll out as follows for the buyer.</span></p>
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																			<li><span style="word-break: break-word; color: #16450e;"><strong>Year 1:</strong></span> The interest rate is 3.5%.</li>
																			<li><span style="word-break: break-word; color: #16450e;"><strong>Year 2:</strong></span> The interest rate is 4.5%.</li>
																			<li><span style="word-break: break-word; color: #16450e;"><strong>Year 3:</strong></span> The interest rate is 5.5%.</li>
																			<li><span style="word-break: break-word; color: #16450e;"><strong>Year 4:</strong> </span>The interest rate returns to the permanent fixed rate of 6.5%.</li>
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																		<p style="margin: 0; font-size: 12px; mso-line-height-alt: 18px;"><span style="word-break: break-word; font-size: 12px; color: #0d0f18;">Buyers should know, they must be able to qualify for the full loan amount at the permanent rate, in order to take advantage of a buydown discount. This is still a great way to ease into homeownership with a reduced interest rate payment.</span></p>
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																		<p style="margin: 0; font-size: 12px; mso-line-height-alt: 18px;">If you know anyone who needs a qualified mortgage professional to purchase a home, refinance, or unlock built-up equity, please share my contact information. We specialize in mortgage planning to build wealth for a healthy financial future!</p>
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