Confused by different mortgage terms?
BREATHE easy. The help you need is right here.
Purchasing a home is a smart investment. Yet whether you are buying a home, refinancing or simply renewing, the mortgage you choose is an important decision. Working with an independent mortgage professional is the first thing you can do to ensure the process is simple, convenient, and in your best interest.
BUY-DOWN:
"Paying down" the mortgage rate by paying the lender a premium at time of funding. This is often used as a marketing feature by new home builders, particularly on high ratio second mortgages.
Use our Mortgage Terms Glossary to learn more about mortgages and the process you’ll go through to obtain one.
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