At Credit Access, which option can a member choose?

Choosing to buy down the interest rate is an option offered to members at Credit Access. This choice allows members to pay additional upfront costs to lower their mortgage interest rate. By doing so, borrowers can reduce their monthly mortgage payments over the life of the loan, which can lead to significant savings in interest costs. This financial strategy can be particularly beneficial for members planning to hold onto their mortgage for an extended period, as the upfront investment may lead to lower overall payments and increased affordability.

In contrast, principal reduction typically involves making larger payments toward the loan principal, which is not a standard choice at the loan origination stage. Escrow for repairs generally pertains to funding set aside for specific repairs rather than a direct option for modifying loan terms. Finally, the transfer of title insurance might be necessary during the closing process but does not directly relate to the options available for adjusting loan conditions at Credit Access.