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RATE RELIEF MORTGAGE CALCULATOR
2/1 Buydown Cost
Use this 2/1 Buydown Calculator to explore the reduced monthly payments available with the loan program.
With Rate Relief by Churchill Mortgage, you’ll get 24 months of reduced mortgage payments at no cost to you.
$1,234.00
Buydown Cost
$X,000 paid by third-party, $X00 remaining cost balance.
* This calculator is being provided for educational purposes only. The provided values for interest rates are examples only and do not reflect Churchill Mortgage Product terms & offers. The results are estimates and are based on the information you provided and may not reflect Churchill Mortgage Product terms. The information cannot be used by Churchill Mortgage to determine a customer's eligibility for a specific product or service. Churchill Mortgage is not responsible for the content, results, or accuracy of information.
These calculations are hypothetical examples designed for illustration purposes only. Rates and payments are for example purposes only and do not reflect currently available rates. Not an offer to lend. Principal and interest only. Taxes, insurance, and HOA are only estimates based on the information you have provided. Consult a Home Loan Specialist for more specific information regarding payments, terms, etc.
How the calculator works:
- Enter your loan amount, interest rate, and loan term into the calculator fields.
- We calculate the monthly payment based on the values you've provided.
- We calculate the adjusted first, second, etc... monthly payments by reducing the rate by 1% for each annual period.
- The total buydown cost is the difference between the total payments made at the original monthly payment, and the total payments made at the rate-adjusted monthly payments.
- Find the Difference Between:
- (Original Mortgage Payment * 36) AND
- (First Year Mortgage Payment * 12) + (Second Year Mortgage Payment * 12) + (Third Year Mortgage Payment * 12)
- Find the Difference Between:
-
- We compare the buydown cost against the third-party contribution to determine the remaining cost balance.
With Rate Relief by Churchill Mortgage, you’ll get 24 months of reduced mortgage payments at no cost to you.
Here's how it works:
- Secure today’s interest rate.
- Receive a discounted monthly payment for the first two years.
- Manage your housing expenses slowly and ramp up over time, so you are set up for long-term success.
- The rate buydown can be paid by the seller or builder
Churchill Mortgage
Home Loan Specialist | NMLS: 123456
Your Mortgage Expert Is Just a Click Away!
1749 Mallory Lane, Suite 100, Brentwood, TN 37027
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