As rates inch higher, more homeowners are buying down their interest rates.
Curious about what that means and if it’s right for you?
Here’s the rundown on mortgage rate buydowns:
▪️ A mortgage buydown is a way to lower your interest rate by paying discount points at closing. Discount points are a one-time, upfront fee.
▪️ Each point costs 1 percent of the mortgage. For example, one point on a $200,000 mortgage would...