Temporary Rate Buydown Calculator

Client Name: John Borrower
Property: 46 Kings Pointe Ct, Belleville, IL 62223
Loan Amount: $350,000
Purchase Price: $365,000
Interest Rate: 6.990%
Term: 30 years
PMI Rate Factor: 0.50%
Escrow (Annual): $0.00

Loan Inputs

Client NameProperty

Loan AmountPurchase PriceInterest Rate (Annual %)Loan Term (Years)PMI Rate Factor (%)Estimated Escrow (Annual $)

At the note rate

Note Rate Payment (P&I)

$2,326.21

PMI Monthly

$145.83

Escrow Monthly

$0.00

Full Monthly Payment

$2,472.04

Display Options

Check any combination of options to include on the printout.

1-1 Buydown2-1 Buydown3-2-1 BuydownShow All

1-1 Buydown

Years 1 and 2 at 1% below the note rate

Year	Buydown Rate	Note Rate Payment	Buydown Payment	Monthly Savings	Annual Savings / Cost
Year 1	5.990%	$2,326.21	$2,096.18	$230.03	$2,760.38
Year 2	5.990%	$2,326.21	$2,096.18	$230.03	$2,760.38
Total Buydown Cost					$5,520.76
Concession / Credits Required (of Price)					1.513%

Year 1

5.990%

Note payment: $2,326.21
Buydown payment: $2,096.18
Monthly savings: $230.03
Annual cost: $2,760.38

Year 2

5.990%

Note payment: $2,326.21
Buydown payment: $2,096.18
Monthly savings: $230.03
Annual cost: $2,760.38

Total Buydown Cost$5,520.76

Concession / Credits Required (of Price)1.513%

2-1 Buydown

Year 1 at 2% below the note, year 2 at 1% below

Year	Buydown Rate	Note Rate Payment	Buydown Payment	Monthly Savings	Annual Savings / Cost
Year 1	4.990%	$2,326.21	$1,876.74	$449.47	$5,393.66
Year 2	5.990%	$2,326.21	$2,096.18	$230.03	$2,760.38
Total Buydown Cost					$8,154.03
Concession / Credits Required (of Price)					2.234%

Year 1

4.990%

Note payment: $2,326.21
Buydown payment: $1,876.74
Monthly savings: $449.47
Annual cost: $5,393.66

Year 2

5.990%

Note payment: $2,326.21
Buydown payment: $2,096.18
Monthly savings: $230.03
Annual cost: $2,760.38

Total Buydown Cost$8,154.03

Concession / Credits Required (of Price)2.234%

3-2-1 Buydown

Year 1 at 3% below, year 2 at 2% below, year 3 at 1% below

Year	Buydown Rate	Note Rate Payment	Buydown Payment	Monthly Savings	Annual Savings / Cost
Year 1	3.990%	$2,326.21	$1,668.94	$657.27	$7,887.27
Year 2	4.990%	$2,326.21	$1,876.74	$449.47	$5,393.66
Year 3	5.990%	$2,326.21	$2,096.18	$230.03	$2,760.38
Total Buydown Cost					$16,041.30
Concession / Credits Required (of Price)					4.395%

Year 1

3.990%

Note payment: $2,326.21
Buydown payment: $1,668.94
Monthly savings: $657.27
Annual cost: $7,887.27

Year 2

4.990%

Note payment: $2,326.21
Buydown payment: $1,876.74
Monthly savings: $449.47
Annual cost: $5,393.66

Year 3

5.990%

Note payment: $2,326.21
Buydown payment: $2,096.18
Monthly savings: $230.03
Annual cost: $2,760.38

Total Buydown Cost$16,041.30

Concession / Credits Required (of Price)4.395%