: You pay for a lower rate that lasts for the entire life of the loan.
: In a buyer's market, you can ask the seller or builder to pay for the buydown as a closing incentive. how to buy down a mortgage rate
: You plan to stay in the home for a long time (typically 5+ years) and don't intend to refinance soon. : You pay for a lower rate that
: Permanent discount points are often tax-deductible if you itemize your deductions. how to buy down a mortgage rate