Real Estate Terms Glossary
What is a Buydown Account?
A buydown account revolves around a mortgage subsidy set forth by a seller at the behest of a homebuyer. A buydown account or escrow account serves as a central point to hold the fund. Usually, the seller transfers funds to a dedicated escrow account. The low payments help homebuyers become eligible for the mortgage easily. Sellers and builders provide affordable buydown options to sell the property more quickly.
Buydown Account Examples
Examples of Balance Sheet include:
- Example 1: Permanent buydown account
- Example 2: Temporary buydown account
Here is a detailed article about the buydown account.
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