Which Lender's buy-down compares to NACA?

[Anonymous]

According to the rep I just spoke to on the phone, NFCU discount points costs 1% of the loan and each point reduces the interest rate by .125%.  Does anyone know of a lender with a better buy-down program? I know NACA's buy-down is also 1% but you get.25% reduction for each 1%. However, NACA's long drawn-out process is not very appealing.  Is there a lender with a comparable buy-down similiar to NACA?

[Anonymous]

Not to give you a sales pitch, but I doubt you'll find a buy down program that matches ours.  Also, don't forget that if you use the 15-year loan each point buys the rate down .50%. Make sure there's no PMI too. The program really is worth the time you invest in it.

Tim Trumble

Online Operations, NACA

[Anonymous]

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@Anonymous wrote:

Not to give you a sales pitch, but I doubt you'll find a buy down program that matches ours.  Also, don't forget that if you use the 15-year loan each point buys the rate down .50%. Make sure there's no PMI too. The program really is worth the time you invest in it.

Tim Trumble

Online Operations, NACA

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Ok I did not know that if you use the 15-year loan each point buys the rate down .50%.  I'm just worried that with all the missed closings and slow responses from NACA that I've read about I would find a dream house and loose it.  To complicate matters, I would be living in a different city than the city I would buy in.  From what I've read, that would not be an ideal situation for NACA.  Can you offer any advice on how to avoid problems in my situation?