For Buydown we have terms and definitions in 6 topics. The topics are Debt Consolidation, Home Equity, Mortgage, Purchasing A Home, Real Estate and Refinance.

Buydown (Debt Consolidation)

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.

Buydown (Home Equity)

When the lender and/or the home builder subsidizes the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires.

Buydown (Mortgage)

With a buydown, the seller pays an amount to the lender so that the lender can give you a lower rate and lower payments, usually for an early period in an ARM. The seller may increase the sales price to cover the cost of the buydown. Buydowns can occur in all types of mortgages, not just ARMs.

Buydown (Purchasing A Home)

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

Buydown (Real Estate)

A financing technique used to reduce the monthly payments for the first few years ofa loan. Funds in the form of discount points are given to the lender by the builder or seller to buy down or lower the effective interest rate paid by the buyer, thus reducing the monthly payments for a set time.

Buydown (Refinance)

When the lender and/or the home builder subsidizes the mortgage by lowering the interest rate during the first few years of the loan. While the payments are initially low, they will increase when the subsidy expires.

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