A 3-2-1 buy down lets buyers temporarily lower mortgage rates with seller-paid concessions. For the first three years, the rate decreases by 3%, 2%, and 1% compared to the original rate (e.g., 4% → 5% ...

When you have extra cash to put toward a home purchase, deciding between buying mortgage points or making a larger down payment can affect your monthly payment, long-term interest costs and overall ...