Finance
A Missouri interest rate buydown means the seller or builder pays money at closing to:
AReduce the buyer's closing costs
BTemporarily or permanently reduce the buyer's mortgage interest rate✓ Correct
CPay the first year's property taxes
DFund the HOA reserve
Explanation
A rate buydown involves paying discount points (or a subsidy) at closing to reduce the buyer's interest rate, either permanently or for a set number of years (temporary buydown).
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