Buying Down Your Interest Rate

December 22, 2009 by Rob Spring · Leave a Comment 

Buydown options
A buydown is a type of financing where the buyer or seller pays extra points (also called discount points) to reduce the interest rate on a loan.
 Buydowns make it easier to qualify for a loan because they lower a loan’s interest rate. They can also allow you to buy more house for your [...]

Understanding ‘Discount Points’ and What They Do

December 10, 2009 by Rob Spring · Leave a Comment 

How do you “buy” a better rate?
Do you plan on keeping your loan for a while? Then it may make sense to “buy” a lower interest rate by paying one or more “points.”
Even if you’re unsure of how long you plan to keep your mortgage before you move or refinance, paying points now for [...]