Select an option to see how the credit may fit into your purchase. Your lender can confirm what your loan program allows.
Ask about reducing your rate
Your lender can show whether a temporary or permanent mortgage rate buydown is available and how it would affect your payment. Costs and savings depend on current loan pricing.
Illustrative payment comparison
$420,000 price · 20% down · $336,000 loan · 30-year fixed at 6.625% · Principal & interest only
2-1 temporary buydown
Base payment at 6.625%
≈ $2,151.44/mo
Year 1 at 4.625%
≈ $1,727.51/mo
Saves ≈ $424/mo
Year 2 at 5.625%
≈ $1,934.21/mo
Saves ≈ $217/mo
Your total savings over two years
≈ $7,694
Year 1 ≈ $5,087 + Year 2 ≈ $2,607
Savings arrive in years one and two—just when moving, furnishing, and settling in can cost the most.
Permanent buydown
Rate bought down to ≈ 5.88%
≈ $1,988.85/mo
Saves ≈ $163/mo
Interest saved over 30 years
≈ $58,500
A lower rate for the life of the loan—savings that never expire.
For comparison: $15,000 price cut
$405,000 price at 6.625%
≈ $2,074.61/mo
Saves ≈ $76.84/mo
Estimates only. Actual rates, points, and buydown costs require lender confirmation; figures subject to borrower qualification, loan program, appraisal, and contract terms.
- ✓Tell your agent you’re interested in the $10,000 buyer benefit.
- ✓Ask your lender to compare the eligible uses for your specific loan.
- ✓Include the agreed seller credit in the purchase contract.
Final credit amount and use are subject to contract terms, lender approval, and applicable limits. This information is not mortgage advice.
