This is a common question that many Arizona home buyers have been asking me! The answer depends on how long you plan to live at your current house. Many times the break-even on the amount of money you spend up front vs. the amount of money you save monthly can be many years.
Every scenario is different because sometimes with higher loan amounts in Arizona, the time to recoup the upfront cost of buying down your rate is only a few years. In this example it was over 11 years for it to make sense for this Gilbert homeowner!
Watch the video below, and reach out to us if you have questions on your loan, and if you should buy down the rate or not.