A buydown happens when the borrower purchases a lower interest rate by paying a premium called a “point.” If you expect to increase your earnings in the future but want a lower payment now, a buydown may be a helpful option
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An interest rate buydown occurs when the borrower acquires a lower rate by paying a premium known as a "point."
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To lower the interest rate on a mortgage for a set period, usually the first few years of the loan, a mortgage buydown entails paying an upfront fee. Due to this, the initial mortgage payments may be more manageable.
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An interest rate buydown occurs when the borrower acquires a lower rate by paying a premium known as a "point."
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