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Buydown the rate
When does a client need to buy down the interest rate?
Buydown cost is included in the closing cost, isn't it?
A mortgage borrower can buy down the rate to get a better interest rate. Cases where mortgage loan borrowers need to buy down the rate is when their front end debt to income ratios are too high. You can use sellers concessions to buy down the rate. Here is an article on buying down the rate for a better lower mortgage rate.



Here is an older mortgage blog post on interest rate buydowns that I have written and published it on http://www.gustancho.com Mortgage and Real Estate Forum that may be of help in helping you better understand the concept of paying points to reduce your mortgage rates:



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