Scenario
$0
$0
1%
$0
Reduced rate by year
Seller pays
$0
Year 1 savings
$0
Per month for the buyer
Seller limit
$0
Room left under limit
$0
For other seller-paid costs
| Year | Rate | Full payment | Borrower paysPays | Monthly buydownBuydown/mo | Annual buydown |
|---|---|---|---|---|---|
| Total cost of buydown | $0 | ||||
| Total cost of buydown: | |||||
Principal and interest only. The buyer qualifies at the full note rate.
How the APR is estimated
All three side by side
| Type | Seller pays | % of price | Year 1 savingsYr 1 /mo | Limit |
|---|
Price drop vs. seller buydown
Cost to seller compares only the price reduction and the seller-paid buydown. It does not include commissions, closing costs, payoffs or other seller expenses and adjustments.
Lender credit
Buyer receives
$0
Applied at closing
Lowers cash to close
Shows as a lender credit on the Loan Estimate and Closing Disclosure
Can be used for
- Lender fees: origination, underwriting, processing
- Appraisal and credit report
- Title search, title insurance, settlement and attorney fees
- Recording fees and transfer taxes
- Prepaid interest, homeowners insurance premium and property tax escrow
Can't be used for
- The down payment
- Cash back to the buyer
- Paying off other debts to qualify
- More than the buyer's actual closing costs
Credit by down payment
| Down | Down $ | Loan amount | Lender credit |
|---|
Based on the purchase price above. The row you entered is highlighted. Qualified buyer and qualified property required.
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