A 7.5% rate does not mean you have to pay 7.5% from day one. A temporary buydown lowers your effective rate for the first few years. A permanent buydown uses points to lower it for the life of the loan. The part buyers miss: sellers can sometimes cover part of the cost through credits, within loan program limits. Thinking about buying in Southern California? Text me and we will map out your options: 562-600-9793 Ray Miramontes | The Mira Group | Circle Real Estate | DRE #01931740 | 562-600-9793 #MortgageTips #RateBuydown #HomeBuyerTips #SouthernCaliforniaRealEstate