There are only several lenders I deal with that are real aggresive in this. Paying 1.00 to save .25 in rate isn’t as simple as saying it’s 4 years to make sense.
A low rate lessens the resale value of the loan on Wall Street, so the larger buy down options are usually only from those who are willing to take their profit up front, and hold the loan.
I usually don’t recommend them if it takes more than a few years to make sense. They aren’t always cheap, BUT it’s usually the only way to max out NRCC (even if they don’t make sense)
Today with a buy down the 30 YR Fixed, Full Am, cost options are
4pts= 5.375%, 4.7pts= 5.25%, 5.4 pts= 5.125%, 6.15pts= 5.00%
