Estimate how much you can save on monthly mortgage payments by paying upfront to temporarily reduce the interest rate.
Choose a 3-2-1, 2-1, 1-1 or 1-0 buydown to compare the displayed payment schedule with the payment at the interest rate you enter. Review each year in the table, including the payment after the temporary reduction ends.
The table shows the payment, monthly savings and annual savings for each period, followed by the estimated buydown total cost. Use the schedule as a starting point for a discussion with WOMC, not a loan quote or an approval.
This tool uses the loan amount, term, interest rate and selected buydown type. Property taxes, homeowners insurance, mortgage insurance, HOA dues and other closing costs still belong in your budget; they are not separate inputs in this calculation.
Review conventional mortgage options and the upfront costs of an Ohio home purchase with WOMC. For two independently entered payment scenarios, use our mortgage comparison calculator.
Final eligibility, pricing and loan structure depend on the full application, property and current guidelines.
Western Ohio Mortgage Corporation, Company NMLS #9601. Talk with a loan officer about your estimate or call 800-736-8485.