What Is A Buydown?
A type of financing in which a developer or seller arranges for the buyer to get a loan at a rate below the current market rate. The developer or seller pays interest costs in order to lower the interest rate but usually raises the price of the house to recoup this loss.
Popular Real Estate Questions
Popular Real Estate Glossary Terms
In a construction loan, payments made to a contractor as the various construction stages are completed. The contractor uses progress payments to pay the various subcontractors and suppliers ...
Provision in a written agreement that depends on the occurrence of something else. ...
Helps in supporting a building. ...
The word’s etymology reflects several diverse or seemingly unrelated topics under the same umbrella. As part of everyday discourse, you’ll find the term “omnibus” ...
Determining the measurements of a specific location. ...
Measure of the typical U.S. family's ability to buy a home, published by the National Association of Realtors. When the Index measures 100, a family earning the median income has exactly ...
Platform erected on a roof in some New England homes having a view of the sea. It was said widows of lost seaman would walk on the platform looking out at sea for their husbands to return ...
Partner in a real estate business who remains anonymous but has legal rights and obligations. ...
Wires, such as for electricity, places beneath the floor of a structure. ...
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