Low down payment .. to lock in interest rate

[Thomas DeLay]

Looking to purchase another home for a house hack with my wife. We have enough for a 20 percent down payment but would like to get a lower interest rate, would it be possible to put 6 percent down to lock a lower interest rate and then put 14 percent more down later to make out payments lower ? Thank you guys in advance such a great community! 

[Thomas DeLay]

Quote from @Doug Lee:

Quote from @Thomas DeLay:

Looking to purchase another home for a house hack with my wife. We have enough for a 20 percent down payment but would like to get a lower interest rate, would it be possible to put 6 percent down to lock a lower interest rate and then put 14 percent more down later to make out payments lower ? Thank you guys in advance such a great community! 

You get a lower interest rate by buying down the rate ie putting more down, not less.  There is a point of diminishing returns.  If your finance person is honest, they will be forthcoming where that break point is.  Usually it's around a 1 - 2 points below where you're originally quoted assuming you have great credit and are financing  conventional terms. 

 Thank you for the quick response Doug ! I will speak with my loan officer 

Thank you