How to use buy downs to lower monthly payments
Example: Purchase price of 1.5M with 20% down and use 34K to a) reduce price vs b) buy down the interest rate
a) Use 34K to reduce the purchase price: loan of 1,172,00 at 6.25% equals $7216 month pmt
b) Use 34K to buy down the interest rate: loan of 1,500,000 at 5.25% equals $6626 month pmt
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©2024 Better Homes and Gardens Real Estate LLC. Better Homes and Gardens Real Estate LLC. All Rights Reserved. Better Homes and Gardens®, the Better Homes and Gardens Real Estate Logo, BHGRE, Be Better and Expect Better are service marks owned by Meredith Corporation and licensed to Better Homes and Gardens Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Each Better Homes and Gardens Real Estate office is independently owned and operated
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