Financial Definition of Builder Buydown Loan
Meaning of Builder Buydown Loan
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 level than the prevailing market loan rate for some period of time. The typical buydown is 3% of the interest-rate amount for the first year, 2% for the second year, and 1% for the third year (also referred to as a 3-2-1 buydown).
Related Entries of Builder Buydown Loan in the Encyclopedia of Law Project
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Builder Buydown Loan in Historical Law
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Legal Abbreviations and Acronyms
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| Related topics | Builder Buydown Loan in the World Encyclopedia of Law |
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