Temporary Interest Rate Buydown Update
Newrez LLC "Newrez" Approved Correspondent Clients: please note the following updates regarding temporary buydowns:
- Newrez will only accept loans with a split buydown when the buydown is paid by the lender, seller, and/or third parties. Newrez will not accept loans with a split buydown when any portion is paid by the borrower.
- Newrez will permit buydowns on VA loans funded by seller, lender, borrower or other interested party.
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