Definition
Buydown
Paying upfront to reduce the interest rate, either permanently (discount points) or temporarily (a 2-1 or 3-2-1 structure).
Nearby terms
Basis Point
One hundredth of a percentage point.
Bridge Loan
Short-term financing allowing a buyer to purchase before selling an existing property.
Cap
A limit on how much an ARM rate can change at first adjustment, at each subsequent adjustment, and over the life of the loan.
Capitalization Rate
Net operating income divided by property value.
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