Above 80%, seller concessions are usually limited to 3%.
At 80% or below, 6% max can be possible.
Some subprime “lenders” were limiting a point rate buy down at a cost of 2 to 2.5 points.
Prime lenders have many diff options. 30 YR conforming rates
were available as low as 5.25% recently WITH the buydown.
Buy downs of 2 or 3 points cost may make sense for some.
Programs are changing every day, really difficult to keep up.
There is a commercial on TV that talks about rates being “around” 5.75%.. (is 6% “around 5.75 ??)
It’s done with buy down fees, but leads people to believe that is the market rate.
