Luminate Path Guide
Are Temporary Interest Rate Buydowns Permitted With Luminate PATH?
No — temporary interest rate buydowns are not allowed on Luminate PATH. This universal rule applies to all six PATH first- and second-mortgage combinations.
No — temporary interest rate buydowns are not allowed on Luminate PATH. This universal rule applies to all six PATH first- and second-mortgage combinations.
Structures that start you at a lower rate for one to three years and then step up — such as 2-1 or 3-2-1 buydowns — cannot be paired with PATH FHA, PATH USDA, or the PATH second-lien options.
Both PATH first mortgages are 30-year fixed. Repayable seconds are also fixed-rate products with rates set by Luminate Bank and disclosed at lock — without a temporary buydown layer.
Without a temporary buydown, payment comfort comes from choosing the right PATH stack — forgivable seconds that add no monthly payment on the aid layer, or repayable amortizing vs balloon structures when you need up to 5% assistance.
Seller credits and permanent points (where allowed outside a temporary buydown structure) may still be part of the conversation, but PATH itself does not permit temporary interest rate buydowns on any of the six product combinations.
If a temporary buydown is non-negotiable for your purchase, Ryan and Steve will compare non-PATH loan options that allow that feature.
Related Luminate Path guides and down payment assistance resources.
PATH FHA and PATH USDA first mortgages — no temporary buydowns.
Fixed-rate repayable seconds with rates disclosed at lock.
No cash back from PATH assistance — DP and closing costs only.
640 for forgivable · 660 for repayable assistance.
Full guide — first mortgages, second options, and universal rules.
Compare PATH rate rules with other DPA programs.
Ryan & Steve match forgivable or repayable seconds to your cash-to-close and monthly payment targets.
Luminate Path programs are subject to borrower qualification, property eligibility, and lender approval. Rates, terms, and program availability may change without notice and are not available in all states. This page is educational — your scenario is underwritten against current guidelines.