Buydown

Buydown

A permanent buydown is prepaid interest that brings the note rate down to a lower permanent rate. A temporary buydown is prepaid interest that lowers the note rate temporarily on the loan, allowing the buyer to more readily qualify and increase payments as income grows.

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Part of Speech: noun
Synonym(s):
Blossary:
Industry/Domain: Real estate
Category: General
Company: Coldwell Banker
Product:
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Related terms

buydown

Financial services; General Finance

A lump sum payment made to the creditor by the borrower or by a third party to reduce the amount of some or all of the consumer's periodic payments to repay the indebtedness.

buydowns

Financial services; General Finance

Mortgages in which monthly payments consist of principal and interest. During the early part of the loan, portions of these payments are provided by a third party to reduce the ...

buydown

Real estate; General

A permanent buydown is prepaid interest that brings the note rate down to a lower permanent rate. A temporary buydown is prepaid interest that lowers the note rate temporarily on ...

buydown

Banking; Personal banking

A lump sum payment made to a creditor by a borrower or a third party to reduce the amount of some or all of the borrower's periodic payments to repay the indebtedness.

buydown

Banking; Mortgage

Money advanced by an individual (builder, seller, etc.) to reduce the monthly payments for a home mortgage either during the entire term or for an initial period of years.

builder buydown loan

Financial services; General Finance

A mortgage loan on newly developed property that the builder subsidizes during the early years of the development. The builder uses cash to buy down the mortgage rate to a lower ...

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