Permanent Buydown
Definition of "Permanent Buydown"
Same as term Points: An upfront cash payment required by the lender as part of the charge for the loan, expressed as a percent of the loan amount; e.g., '3 points' means a charge equal to 3% of the loan amount. When points are negative, the lender credits the borrower or the mortgage broker. Negative points are termed '''rebates.' When retained by a mortgage broker, they are termed 'yield spread premiums.'
Popular Mortgage Terms
A mortgage Web site that shows mortgage prices posted by participating lenders, in some cases hundreds of them. ...
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The definition of interest is extremely important in today’s business environment where lending and borrowing money are the power stations of our economy. A widespread definition of ...
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A borrower with the best credit rating, deserving of the lowest prices that lenders offer. ...
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