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What are the benefits of buying down an interest rate?
What are the benefits of buying down an interest rate? Going to be buying a home soon. Our lender suggested we buy down the rate so it’s lower but it significantly increases what we have to pay in closing costs. I’m just having a hard time arguing what the benefit it. It would be 8.1% without a buy down and 7.1% with the buy down. I’m also frustrated that we are going to be paying close $20K just t...
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