CalculatorMortgage Rate Buy Down

This program is used to calculate a mortgage rate buy down. In marketing new developments, such as a condominium project, the developer may offer the purchaser a first mortgage with an Interest Rate that is less than the current Market Interest Rate. He does this by buying down the interest rate from the lender. The program calculates the cost of buying down the interest rate and the Effective Annual Interest Rate for the buyer or the borrower.