What should I do instead of buying points?

Instead of buying points to lower a mortgage rate, a buyer can ask the seller to cover part of the buydown cost as a closing concession, consider a temporary rate buydown that eases the first years of ownership, or simply put that same cash toward a larger down payment to shrink the loan itself. Which option makes sense depends on how long the buyer plans to keep the loan. Brian Beatty can weigh these options against a specific offer.