Total concession
$20,172
Buydown cost plus closing costs.
Over the limit by $7,872. Conventional caps seller concessions at 3% of the price ($12,300) with under 10% down.
2-1 temporary buydown$9,436
Closing costs$10,735
Total concession$20,172
Program limit (3%)$12,300
Price minus concession$389,828
Buyer's payment (principal & interest)
Year 1 at 5.40%$2,233/mo
Year 2 at 6.40%$2,488/mo
Year 3 on at 7.40%$2,754/mo
Cash to close (down + closing − credit)$12,300
Estimates using a 7.40% 30-year fixed (sample rate, Freddie Mac PMMS week of October 15, 2026) (8.038% APR; assumes 1% of the loan in prepaid finance charges, plus any mortgage insurance and financed FHA/VA fees.) Principal & interest only; taxes, insurance and mortgage insurance are extra. The rate is the same for every credit score. Closing costs are estimated from typical Indiana fees (no discount points), with property taxes at 1% of the price. Temporary buydowns require a signed contract, and the buyer qualifies at the full rate. Not a commitment to lend.