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New G-Rate program allows sellers to permanently buy down their buyer’s mortgage rate

Guaranteed Rate has introduced a new feature that allows sellers working with a G-Rate loan officer to pay a fee that locks in a permanently discounted mortgage rate for a buyer.

Known as “RateReduce Sell,” it’s a major enhancement to the existing RateReduce buydown program, in which sellers have paid to temporarily buy lower mortgage rates, typically a 2-1 buydown, for buyers.

But with RateReduce Sell, sellers will be able secure a lower rate by buying down points permanently. The final mortgage rate, however, will ultimately be different for every borrower’s situation.

“Rates will details ⇒

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