What is a rate buy down? In this video, our local lender will break down a few things you should know about buydowns. You will want to watch this before buying a home. A buydown allows homebuyers to obtain a lower interest rate when taking out a mortgage loan. Buydowns can save homeowners money on interest over the life of the loan. A buydown can involve purchasing discount points against the mortgage loan, which may require payment of an up-front fee. If you are thinking about buying a house in 2024, what this video to find out how you can save.

Join my newsletter to stay up to date with everything Fredericksburg, Va
https://lp.constantcontactpages.com/s...

Follow Me On
Facebook💢
  / bqc21  

Follow My Instagram🔥
  / bqc21  

Want to know more?
https://www.midvahomes.com

0:00 Intro
0:43 What is a buy-down
1:43 History when they came into
2:20 How much a rate lock is going to cost
6:20 Is there an upper limit on how many points you can buy
7:13 Is it smart to always buy points?
14:45 outro



---------------------------------------------------------------------------------------------------------

#BenQuann #virginia #bqc21 #realestate #realtor #realestate101 #bythenumbers #quannrealestategroup #relocationrealtor #relocationrealtor #realestateadvice #homebuying #buyingahome #listingagent #buyersagent #virginiarealestate #virginiarealtor #virginia
#knowbeforeyoubuy