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Washington Association of Mortgage Brokers


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Sample 2-1 Buydown

Sample
  • Loan Amount: $100,000 
  • 30 Year Note Rate: 9.000%
  • Qualifying Rate: 7.000%
Principal & Interest Monthly Subsidy

  • 1st Year @ 7% $665.30 $139.32

  • 2nd Year @ 8% $733.77 $70.85

  • 3rd-30th @ 9% $804.62 $0

$139.32 x 12 = $1671.84
$ 70.85 x 12 = $ 850.20
Total Subsidy: $2522.04 Deposited into an Escrow Account at Closing.  Withdrawn monthly to subsidize payment  during years 1 & 2.

Who May Pay This Subsidy?
  • Lender with rebate pricing
  • Seller
  • Buyer
  • Gift from relative

 

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Fair Housing & Equal Opportunity. NAMB
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Certified Mortgage Planning Specialist
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Don Chase - Mortgage Analyst/Broker
 WA License #510-LO-36902
Phone: 206-241-9111
email: donc@DonChaseMortgages.com
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