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Learn with me current Rate Buy Downs from Max!

“Let’s say your client buys a new home with a $700K loan and pays $6-7K to buy the rate down. A few months later, they sell their old home and put $300K toward the loan, bringing the balance down to $400K. The monthly savings from the buydown? Only about $70. It would take 8–9 years to break even—and if they refinance or sell before then, some of that money is lost. Another point to consider…what if they had taken that $6-7K and invested it? They’d be making money on their money. So the break even for the buy down can be even longer.”

💡 Thinking about a rate buydown? Read this first. We’re seeing a lot of buyers interested in paying points to lower their rate—but when they plan to sell their current home after buying a new one and re-cast their mortgage, it often doesn’t make sense. 📉 Example: Buyer takes a $700K loan and spends $7K to buy down the rate. A few months later, they sell their old home and put $300K toward the loan, reducing the balance to $400K. That $7K investment only saves ~$70/month. 📆 Break-even = 8–9 years. If they sell or refinance before then? Money lost. If your clients are in this boat, let’s talk through the math first. The right move isn’t always the obvious one. #mortgagetips #payingpoints #discountpoints #realestatetips #georgiarealestate #georgiamortgagebroker

Happy Thanksgiving to everyone today..may your day be blessed with new memories and a grateful heart and hopefully good PIE!