n. An accelerated repayment of the principal of a loan.
n. A payment by a third-party to a lender to reduce some of all of the payments otherwise required, especially in first few years of the loan, thereby enhancing the apparent quality of the loan.
Word Usage
"Their wish list includes a $22,000 tax credit for home buyers and a mortgage-rate buydown that would trim rates to as low as 2.99%."