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FindLaw Legal Dictionary

The FindLaw Legal Dictionary -- free access to over 8260 definitions of legal terms. Search for a definition or browse our legal glossaries.

term:

Buy Down

buy down

the seller pays an amount to the lender so the lender provides a lower rate and lower payments many times for an ARM. The seller may increase the sales price to cover the cost of the buy down.



Source: U.S. Department of Housing and Urban Development

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