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Resources > Glossary > Buydown Mortgage

Glossary of Notary Public, Mortgage, Signing Agent, and Loan Signing Terms.

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Common Terms 1   Common Terms 2

Buydown Mortgage

Phonetics: buy·down mort·gage

Function: noun

Definition 1:
A temporary buydown is a mortgage on which an initial lump sum payment is made by any party to reduce a borrower's monthly payments during the first few years of a mortgage. A permanent buydown reduces the interest rate over the entire life of a mortgage.

Thesaurus / Related Terms
Adjustable Rate Mortgage
Assumable Mortgage
Balloon Mortgage
Biweekly Payment Mortgage
First Mortgage
Mortgage