Let's walk through how you can actually buy down your interest rate! You can save hundreds, if not thousands of dollars by buying down your interest rate. But, there are some limitations to how much seller concessions you can receive, based on your loan and down payment. Let's also walk through the numbers of buying down your interest rate.
Today we're talking about a permanent buy down or really even any kind of seller concession and a limitation on the amount that you can get in order to buy that rate down. For conventional loans, whether you're buying it as a primary home or a second home, we're going talk about investments. With a primary home or second home, it depends on how much money you're putting down. So when you are putting down less, you can get less of a seller credit to help give you that rate. Buy down advantage. Let's talk through some of those numbers.
Listen to this 5 minute episode of The Double Comma Club, "Can I Buy Down My Interest Rate?"