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1 year ago

Nina and rob prepaid some of their interest to their lender when financing their new home. what's this called?

1 answer:

4 0

If Nina and rob prepaid some of their interest to their lender when financing their new home, This is called buydown.

<h3>What is buydown?</h3>

Buydown can be defined as the process in which a mortgage borrower plan to acquire an interest that is lower by paying prepaid interest or fee.

Hence, Nina and rob are using mortgage financing strategy which is why they prepaid some of their interest to their lender so as to have lower interest.

Learn more about buydown here:brainly.com/question/17438294

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