How to use buydown in a sentence? Find typical usage patterns (collocations)/phrases/context for "buydown" and check conjugation/comparative form for "buydown". Mastering all the usages of "buydown" from sentence examples published by news publications.
"Homes: Slow-market savings - the 'buy-down'", CNN Money In most cases, the buydown does not even involve the seller. It is an arrangement between the lender and the buyer. You may also use the buydown option on a refinance.
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A buydown is a mortgage financing technique where the buyer attempts to obtain a lower interest rate for at least the first few years of the mortgage."Definition of buydown", Dictionary The seller of the property usually provides payments to the mortgage lending institution, which, in turn, lowers the buyer's monthly interest rate and therefore monthly payment. This is typically done for a period of about one to five years. In a seller's market the seller might raise the purchase price to compensate for the costs of the buydown but in most markets it would not be to their advantage to use a buydown as an enticement if they are going to offset the benefit by raising the price.
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Mastering Real Estate Principals. p. 371 package loans add the costs of furnishings and other personal property to the mortgage. Buydown mortgages allow the seller or lender to pay something similar to points to reduce interest rate and encourage buyers.Homes: Slow-market savings – the 'buy- down'.
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The agreement gave ERC the authority to impose tolling on the roadway in order to recoup the private parties the money they put into the project. Initially, ERC estimated the toll rate to be between $2–3 (for cars), however the Comprehensive Agreement scheduled the tolls to begin at rates of $1.59/non-peak hours and $1.84/peak for cars and $4.77/non-peak and $7.34/peak for heavy vehicles after the infusion of VDOT and FHWA money and the extra eight years added to the concession. However, after public outcry at the rates, the incoming governor, Terry McAuliffe announced a further, $82.5 million buydown of the tolls through the completion of the construction. This buydown reduced tolls to 75-cents/off peak and $1.00/peak for the light vehicles, and $2.25 during non- peak or $4.00 during peak hours for heavy vehicles.
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As a part of the funding structure for the project, tolls were established by ERC. Tolls were originally scheduled to begin in late-summer 2012 (in conjunction with ERC assuming operation and maintenance duties in July 2012), however the McDonnell administration authorized a $100 million buydown suspension of the tolls until January 2014. This also gave time for a civil lawsuit to work its way to the Virginia Supreme Court who ruled on the case in November 2013, allowing tolling to begin in February 2014. It will continue through April 13, 2070.
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