Beth Graichen Southern Homes of the Carolinas Lake Norman Mike & Co

02/06/2026

06/01/2024

When you work with really great people and they bless you more than you can imagine.

01/28/2023

This is what happens when you take clients shopping by boat. The seller lets my client hop on the jet ski and take a spin around the lake. I love what I do.

01/14/2023

Your listing expired and now agents are hovering over you like a flock of vultures; want to know why? Give us a call and we can soar you through what is going on.

12/28/2022

Trying to navigate the home buying and selling process can be like....

We can help you sail through smooth waters.

11/17/2022

Never leave home without them!

10/19/2022

Important notice for anyone looking to purchase a home. Hope this is helpful.

Wanted to get another email out to everyone on this 2/1 buydown. I think this will really help deal with the rate increase pains we are all feeling. Let’s face it, we are going through a correction right now, but it’s just temporary. I wanted to give you a scenario that may help you understand how this product works. I have also attached an editable spreadsheet that can help you if need be.



A 2/1 buydown means that the rate will step up overtime. Let’s use the Loan Scenario below:



Loan amount 500,000

2/1 buydown

780 credit score



To price this loan up today, they qualify for a 6.875 rate for a 30 year fixed. In order to get the 6.875 rate, they have to pay 2 discount points (10,000) to get this. Sounds like a ton right? Not so fast.



Here are the payments for each rate.



1st year rate 4.875 Payment 2646.00

2nd year rate 5.875 Payment 2950.00

3rd year rate 6.875 Payment 3285.00





OK, so the customer just spent 10k to do this type of loan. The customer’s payment is $639 less than it would be for the first year. So the customer will save 7,668.00 in payments. The 2nd year the customer will only save 335$ a month. This would save them an additional 4020.00. So the total they save by doing the 2/1 buydown is 11,668.00. So they recouped what they spent and then some!



Here is the beauty of this loan. If they decide to refi next year when the rates drop, they will get a credit back. They will get $5000 back to put towards their refi.



Most people are paying points to buy their rates down because they are so high. They are throwing this money away. If your rate today is 6.875 on a 30 year fixed loan and you paid 2 points to buy it down, your rate would only be 6.125. With the 2/1 buydown, the rate is much lower and you save way more. You wont get a credit for your next refi either.



I know this is a lot to soak in, but we are starting to lock more and more of these.

As always, please reach out with any questions.

10/11/2022

It was closing day. I still can't believe I get to do this!

09/22/2022

Under Contract!