Estimate 3-2-1, 2-1, 1-1, and 1-0 temporary rate buydown payments and the upfront cost to fund the buydown with Kim Renquest at Luminate Bank.
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Compare 3-2-1, 2-1, 1-1, and 1-0 temporary rate buydowns. See the borrower payment each year and the upfront cost to fund the buydown.
Estimate the borrower payment each year and the upfront cost to fund a temporary rate buydown. Each year is calculated as a fully amortizing principal-and-interest payment on the original loan amount and term at that year’s reduced rate. The buydown cost is the total of the payment differences.
Buydown structure
Loan term
Estimated buydown cost
Amount typically deposited at closing by the seller, builder, lender, or borrower so the reduced payments can be made.
Principal and interest only. Taxes, insurance, mortgage insurance, and HOA dues are not included and do not change with the buydown. Many programs qualify the borrower at the note rate. This is an estimate for comparison, not a commitment to lend.
*This calculator is for informational purposes only and may not be accurate. This is not a loan pre-qualification or pre-approval nor a commitment to lend. Additional fees such as HOA dues or condo assessments are not included. Rates, taxes, insurance, mortgage insurance, and buydown costs are estimates and should be used for comparison only. Contact a financial professional for full details.
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