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Buydown Mortgage A temporary buydown is a mortgage on which an initial lump sum payment is made by any party to reduce a borrower's monthly payments during the first few years of a mortgage. A permanent buydown reduces the interest rate over the entire life of a mortgage.
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Ian Robinson, Broker, Realtor, ABR, CBNHS, CLHMS, CNHS, CNS, CRS, GRI, e-Pro
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Ian Robinson is Licensed to practice real estate in the State of Illinois
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