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.