Lender offering better refinance rate with a buy down

[Kumar Gaurav]

Hello,

I am in the process of Refinancing my loan and lender is offering me a better if I buydown the mortgage by $50,000.Although it's feasible to pay down principal by additional $50,000 at closing. I will end up compromising on the liquidity. Are there any creative ways to finance this without compromising on the liquidity?I am thinking about credit cards and helocs close to 0% promotional interest rates ,but they are hard to find during this pandemic .So I am exploring if there are any other creative ways.Appreciate your inputs.

Thanks

[Jason Wray]

Kumar,

The lender you are using has risk based lending and it seems like they are asking a lot to buy down the mortgage. You have other options one would be to buy down the rate for a lot less! You may also be dealing with a broker/lender who has a high broker fee/loan officer compensation plan. I would definitely get other options there is no cost to rate shop and see who has the best "APR". What are you trying to refinance loan size, LTV, Fico, property type etc...?