 Or maybe you buy it down two points for the first year, one point for the second year, and then it resets to whatever the market rate was when you bought your home. But for those first two years, you have the opportunity to get raises, to increase your income, pay down other debt, and enjoy a lower mortgage payment. Then the other type of interest rate buy-down is where you pay the money up front to permanently buy down the interest rate, like you said, maybe a quarter, maybe a half, maybe a full point, depending on the cost.