First Time Home Buyer - Need Advice on Rate Buydown

[/u/cryptocoindude]

I am a first time home buyer and I have a few decisions to make until Closing. I've negotiated a decent matching offer from the cheapest lender I could find that brings my rate to around 6.5% currently. However, I have Seller's concessions on hand of around 21k that could lower the rate with a buydown down to 5.875%. Now, the reduction in monthly mortgage rate would be around $293 a month, so from what I understand the breakeven time is around 72 months. Shall I go for that or a 2-to-1 buydown or pay for Closing costs with the 21k instead? I do not plan to EVER sell the house but refinancing seems to be a free option down the road with my bank. Any thoughts are welcome.

submitted by /u/cryptocoindude
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First Time Home Buyer - Need Advice on Rate Buydown
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