Category: B

BUY DOWN RETOTD: Episode 00010

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BUY DOWN Extra money paid in a lump sum to reduce the interest rate of a fixed rate mortgage for a period of time. The extra money may be paid by the borrower, in order to have a lower payment…

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BI-WEEKLY MORTGAGE RETOTD: Episode 00009

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BIWEEKLY MORTGAGE A mortgage where you make “half payments” every two weeks, rather than one payment per month. This results in making the equivalent of 13 monthly payments per year, rather than 12, significantly reducing the time it takes to…

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