A temporary buydown allows homebuyers to lower their interest rate for the first 1-3 years of their mortgage loan, helping them ease into ownership and save money. It benefits both homebuyers and sellers, offering a gradual payment option for buyers and a quicker sale for sellers without reducing the list price. The seller or builder covers the reduced interest rate, and it can be negotiated through a Realtor. Temporary interest rate buydowns are available with loan programs like conventional, FHA, USDA, VA, and jumbo loans, and can be combined with down payment assistance programs. For example, a 3-2-1 buydown would reduce the interest rate for the first three years.