10/27/2026
Are you getting ready to buy a home in Coastal Delaware? Before you lock in your mortgage rate, there's a financing strategy you NEED to know about that could potentially save you thousands of dollars!
In this episode of WHO'S IN THE HOUSE, Cory Mayo, REALTOR and co-host Joe Aquino, Realtor welcome special guest Steve Menozzi from New American Funding to discuss mortgage strategies, today's lending environment, and one financing option that more homebuyers should understand: the 2-1 mortgage buydown program.
💰 What exactly is a 2-1 buydown?
A 2-1 mortgage buydown is a temporary interest rate reduction that can lower your monthly mortgage payments during the first two years of your loan. Typically, the rate is reduced by 2 percentage points in year one and 1 percentage point in year two before returning to the original note rate in year three.
But is this strategy right for everyone? And what should buyers understand before taking advantage of it?
🎙️ In this episode, we discuss:
✅ How the 2-1 mortgage buydown program works
✅ How buyers may be able to reduce their initial monthly mortgage payments
✅ Mortgage strategies worth considering before purchasing a home
✅ Why understanding your financing options is so important
✅ How working with the right lender and REALTOR® can make a difference
Whether you're a first-time homebuyer, relocating to the Delaware beaches, purchasing new construction, or considering your next home, understanding your mortgage options could make a significant difference in your buying experience.
Thinking about buying, building, or selling in Coastal Delaware?
The Cory Mayo Team specializes in helping buyers and sellers navigate the Coastal Delaware real estate market, including Lewes, Rehoboth Beach, Milton, Millsboro, and surrounding communities.