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Free Mortgage Buydown Calculator: Save on Your Home Loan

Estimate Your Savings with Our Simple Buydown Tool

Discover how a mortgage buydown can lower your interest rate and monthly payments with our free Mortgage Buydown Calculator. Designed for first-time homebuyers, refinancers, and investors, this tool provides clear insights into potential savings over your loan’s lifetime. Start saving today!

Why Choose a Mortgage Buydown Calculator?

A mortgage buydown reduces your interest rate upfront, making homeownership more affordable or lowering your current mortgage costs. Our calculator helps you:

• Maximize Savings: See immediate and long-term reductions in monthly payments and total interest.
• Weigh Costs vs. Benefits: Compare upfront buydown fees with lifetime savings.
• Tailor Your Plan: Explore custom buydown scenarios based on your loan details.

How Our Buydown Calculator Works

1. Input Loan Details: Enter your loan amount, term, and current interest rate.

2. Select a Buydown: Choose options like a 3-2-1 or 2-1 buydown to see the impact.

3. Get Results: Instantly view your new monthly payments and total savings.

Top Benefits of a Mortgage Buydown

- Reduced Payments: Lower monthly costs for better budget management.

- Greater Affordability: Qualify for your dream home with a lower rate.

- Interest Savings: Keep more money over the life of your mortgage.

Frequently Asked Questions

What is a mortgage buydown?
A mortgage buydown involves paying a fee upfront to lower your interest rate, reducing monthly payments and total loan costs.

Is it worth it for me?
It depends on your finances and goals. Use our calculator to weigh the savings and decide.

Can I use it for refinancing?
Yes! It’s perfect for both new purchases and refinancing existing loans.

Disclaimer

This Mortgage Buydown Calculator is an educational tool for estimating savings and understanding the mortgage process. Results are approximations and exclude taxes, insurance, or other fees, which may increase actual payments. This is not an offer or guarantee of credit. For accurate quotes, consult a PrimeLending loan officer.

Example: A 3-2-1 buydown on a $225,000 home (20% down, 30-year fixed, 6.673% APR, $3,320.80 in fees) starts at 3.5% ($808.28/month) in year 1, rises to 4.5% ($912.03/month) in year 2, 5.5% ($1,022.02/month) in year 3, then 6.5% ($1,137.72/month) with 0.107 points ($192.60) at closing. Rates as of 1/30/23; subject to change. Assumes a 760 credit score. Approval depends on income, property, and credit checks. Seller/builder must fund buydown costs. Some loans may not allow buydowns; restrictions apply. Contact PrimeLending for details.

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