buydown

A prepayment on a loan to lower future monthly payments, often temporarily. The amount we would have had to pay monthly on our mortgage was higher than we wanted, so we paid more up front and did a buydown that way. Unfortunately, I couldn't do a buydown on my car loan because I didn't have enough money for a large down payment. Sure, you can do a buydown, but only if you have the cash for it, pal.