At 829 Mountain Ave, a seller-paid 2-1 buydown through Rate cuts year-one principal and interest by about $1,481 a month, about $26,879 in total (6.916% APR)
WESTFIELD, NJ, UNITED STATES, October 29, 2026 /EINPresswire.com/ — Buyers shopping Westfield’s million-dollar market have a new reason to look at 829 Mountain Avenue. The seller of the five-bedroom colonial, listed at $1,449,900 by Signature Realty NJ, LLC, is paying for a 2-1 rate buydown through Rate that sets a qualified buyer’s interest rate at 4.875% in year one and 5.875% in year two before it settles at the 6.875% note rate (6.916% APR) on a 30-year fixed jumbo loan.
On an example purchase with 20% down ($289,980) and a $1,159,920 loan, year-one principal and interest would be $6,138.39 a month — about $1,481 less than the full-rate payment of $7,619.85. Year two would be $6,861.36, about $758 a month less. Across the two years, that is roughly $26,879.40 in savings, funded by the seller.
The offer targets how Westfield homes actually sell. According to Garden State MLS data for Westfield sales from May through October 2026 (116 sales), about 79% of buyers used conventional financing and about 20% paid cash. Above $1 million, about four out of five sales were financed. Seller-paid buydowns remain uncommon at this price point.
“Rates have certainly affected affordability, but this is a creative solution,” said Jonathan Steingraber, Broker of Record, Signature Realty NJ. “It’s an incentive that will attract buyers, and a win-win situation. More sellers will start offering these options.”
“2/1 buydowns are buyers’ secret weapon right now,” said Jon Lamkin of Rate (NMLS #143207).
The home
829 Mountain Avenue is a classic colonial on 0.37 acres with five bedrooms, three full and one half baths, and 2,914 square feet plus a heated sunroom. Highlights include a fireplace, a formal dining room, refinished hardwood floors, and a new roof installed in October 2026. Outside, a fenced, level backyard with a patio and a detached two-car garage round out the property. Annual property taxes are $18,054.08 (2025).
Open houses
The open houses are Saturday, Oct. 31, and Sunday, Nov. 1, from 1:00 to 3:00 p.m. Private showings are available by appointment daily from 10 a.m. to 2 p.m.
About Signature Realty NJ, LLC
Signature Realty NJ, LLC is a real estate brokerage serving buyers and sellers in Westfield and the surrounding Union County area. Jonathan Steingraber is a New Jersey licensed broker and the firm’s Broker of Record.
Media contact
Jonathan Steingraber, Broker of Record, Signature Realty NJ, LLC
Cell: 908-868-2178 | Office: 973-921-1111 | jonsteingraber@gmail.com
Lender contact
Jon Lamkin, Rate, NMLS #143207 | (973) 219-9282 | jonl@rate.com
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Disclosures: Rates as of October 27, 2026; subject to change and lender approval; not a commitment to lend. Example based on purchase price $1,449,900, 20% down, $1,159,920 30-year fixed jumbo loan, 6.875% note rate / 6.916% APR after buydown period. Payments shown are principal and interest only; taxes and insurance extra. Seller-paid 2-1 buydown: 4.875% year 1, 5.875% year 2, 6.875% years 3–30. Financing through Rate, NMLS #143207. Listing brokerage: Signature Realty NJ, LLC. Equal Housing Opportunity. Market figures based on GSMLS data for Westfield sales, May–October 2026; information deemed reliable but not guaranteed.
Jonathan Steingraber
Signature Realty NJ, LLC
+1 908-868-2178
Jon@signaturerealtynj.com
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