Mortgage that in the beginning has two temporary interest rates. These rates will then increase in stair-step movements until a permanent interest rate is set. Sometimes used as an incentive by home builders to attract buyers. Initial reductions in the interest rate are either paid for by the buyer or by the builder.
Related information about 2-1 buydown:
- 2-1 Buydown Definition | Investopedia
A type of mortgage with a set of two initial temporary-start interest rates that increase in stair-step fashion until a permanent interest rate is reached. The initial ...
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A type of mortgage with a series of three initial temporary-start interest rates that increase in a stair-step fashion until a permanent interest rate is reached.
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FHA Loan Program offers FHA 2/1 Buy Down Loan to help home buyer to buy a home or to refinance a mortgage.
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Oct 5, 2010 ... An FHA 2/1 buydown is an option when getting an FHA loan where you can buy down the interest rate for a period of 2 years.
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