Online and Mobile Banking Update: September 24.
As part of our commitment to delivering the best online and mobile banking experience for our customers, we’re here to help you prepare. Learn more about service interruptions, how to prepare and helpful next steps for personal and business banking.

Buydown

Definition

When the seller, builder or buyer pays an amount of money up front to the lender to reduce monthly payments during the first few years of a mortgage. Buydowns can occur in both fixed- and adjustable-rate mortgages.