buy-downn.

Brit.

/ˈbʌɪdaʊn/, U.S.

/ˈbaɪˌdaʊn/

Origin: Formed within English, by conversion. Etymon: to buy down at buy v. Phrasal verbs 1.

Etymology: < to buy down at buy v. Phrasal verbs 1.

Originally and chiefly North American.

An act of paying for a reduction in the interest rate payable on a loan or debt; esp. the payment by a builder, property developer, etc., of a lump sum to a lender to reduce the interest due on a mortgage for a homebuyer, typically for a limited period at the start of repayment.Other methods by which interest may be bought down include the borrower increasing the sum borrowed by an amount equivalent to the difference between the repayments at the reduced and the standard interest rate, or by paying an amount (usually reckoned in percentage points of the face value of the loan) up front or on closing.

1974 Daily Breeze (Torrance, Calif.) 25 Aug. d8/2 [Many developers] are absorbing the cost of the buy-down and thus they are not likely to continue to do so if real rates drop to 9 per cent.

1988 D. C. Schwartz et al. New Housing Policy for Amer. iii. 104 Home builders, home sellers, and the states have, on occasion, offered interest-rate buydown programs.

1991 Toronto Life Mar. 26/1 With a buy-down the vendor pays the buyer's mortgagee a lump sum to lower the mortgage interest rates up to three points over a fixed term, usually one to two years.

2008 K. Gottberg Compl. Guide to selling Your Own Home in Calif. xii. 169 A buy-down may also lower the cash requirements buyers have at closing, and..they usually allow a buyer to qualify for a larger loan than they might otherwise have been able to obtain.

This is a new entry (OED Third Edition, December 2022).

单词	buy-down
释义	buy-downn. Brit. /ˈbʌɪdaʊn/, U.S. /ˈbaɪˌdaʊn/ Origin: Formed within English, by conversion. Etymon: to buy down at buy v. Phrasal verbs 1. Etymology: < to buy down at buy v. Phrasal verbs 1. Originally and chiefly North American. An act of paying for a reduction in the interest rate payable on a loan or debt; esp. the payment by a builder, property developer, etc., of a lump sum to a lender to reduce the interest due on a mortgage for a homebuyer, typically for a limited period at the start of repayment.Other methods by which interest may be bought down include the borrower increasing the sum borrowed by an amount equivalent to the difference between the repayments at the reduced and the standard interest rate, or by paying an amount (usually reckoned in percentage points of the face value of the loan) up front or on closing. Π 1974 Daily Breeze (Torrance, Calif.) 25 Aug. d8/2 [Many developers] are absorbing the cost of the buy-down and thus they are not likely to continue to do so if real rates drop to 9 per cent. 1988 D. C. Schwartz et al. New Housing Policy for Amer. iii. 104 Home builders, home sellers, and the states have, on occasion, offered interest-rate buydown programs. 1991 Toronto Life Mar. 26/1 With a buy-down the vendor pays the buyer's mortgagee a lump sum to lower the mortgage interest rates up to three points over a fixed term, usually one to two years. 2008 K. Gottberg Compl. Guide to selling Your Own Home in Calif. xii. 169 A buy-down may also lower the cash requirements buyers have at closing, and..they usually allow a buyer to qualify for a larger loan than they might otherwise have been able to obtain. This is a new entry (OED Third Edition, December 2022). < n.1974
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