When you work with Luminate, for a limited time, you can lock in on a 30-year mortgage with a 2-1 Buydown! How does this work? Essentially, the 2-1 Buydown is an agreement between the seller and buyer to fund an account that will subsidize the rate reduction of 2% of the interest rate for the first 12 months and a 1% rate reduction for the following 12 months. With the seller buying the rate to sell at full price, the buyer is getting a lower rate and lower monthly payment (for a limited time only).


  • Buydown counts towards max seller contributions
  • Available for primary or secondary home purchase
  • Minimum 620 Credit Score
  • Conforming 30-year fixed products

How It Works
(Example only subject to rates changing)

  • Year 1 _______________3.5% (APR 5.76%)
  • Year 2 _______________4.5% (APR 5.76%)
  • Year 3 _______________5.5% (APR 5.76%)

Monthly Savings

  • Year 1 _______________$676.85
  • Year 2 _______________$348.29
  • Total Savings _________$12,301.68

*Based on 2/1 Buydown with an example sales price of $600,000 and loan amount of $570,000. First year monthly payment on 2/1 buy down to be $3300.30 based on a rate of 3.5%; 2nd year monthly payment $3628.86 based on a rate of 4.5% and remaining years of 3-30 monthly payment of $3977.15 based on a rate of 5.5% (5.76% APR) Monthly payment shown includes Principal and Interest estimated taxes, insurance, and mortgage insurance. Conventional loans only. This is based on current rates which are subject to change.

Contact us today to learn more! Ready to get started?  We’re here to help!

Tim Erickson
P: (652) 451-2273
E: tim.erickson@goluminate.com
W: www.TimEricksonMortgage.com

Mark Henderson
P: (651) 398-3477
E: mark.henderson@goluminate.com
W: www.MarkHendersonMortgage.com