Profile picture for TRP2

How do you "buy down" the interest rates with points? what are the qualifiers?

  • April 02 2010 - Alamogordo
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Answers (1)

Best Answer

Profile picture for nwhome.us
Post this question in the Mortgage section and you'll get some responce immediately.
Very basically; you pay a "fee" to buy down the interest rate during the loan application process.  More mony now; less money in interest payments.
The only way to do this with an existing loan is to refinance the current loan with a new one which is what happens when you "renegotiate" your current loan.
  • April 03 2010
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