Gateway Correspondent Lending to Begin Purchasing Loans with Temporary Buydowns!

Effective Today, February 21st, 2024, Gateway Correspondent Lending is pleased to announce that Temporary Buydowns are now available

Allowable Products – First lien, fully amortizing Fixed Rate Conforming Conventional, FHA, VA, USDA loans.

Conventional – 10, 15, 20, 25, or 30-year term

FHA/VA –15, 20, 25, or 30-year term

USDA – 30-year term

Ineligible Products - HUD 184 and Specialty Lending Programs are not eligible.

Eligible Products - See below.

Conforming Fixed Rate - DU

Conforming Fixed Rate - LPA

FHA

VA

RD

CF10

CF10-FHLMC

 

CF15, CF15-HR

CF15-FHLMC, CF15-FHLMCHP

F15

V15

 

CF20

CF20-FHLMC

F20

V20

 

CF25

CF25-FHLMC

F25

V25

 

CF30, CF30HR

CF30-GHLMC, CF30-FHLMCHP

F30

V30

RD30


For complete details, please refer to the Temporary Buydown Product Description at www.gatewaycorrespondent.com in Chapter 5 of our Client Guide.

 

Please direct any questions to your Regional Sales Manager.