HOA $72/mo · Listed by Nick Ireland, Berkshire Hathaway HomeServices
Est. property taxes $4,983/yr (not included in the payments shown)
N
Listed by
Nick Ireland
Berkshire Hathaway HomeServices
Licensed agent
Same $14,000 from the seller · monthly P&I
$14k price cut
$3,940
/mo · saves $92
2-1 buydown, year 1
$3,940
/mo · saves $745
Price cut−$0
2-1 buydown−$0
Then $3,559 in year 2 and $3,940 from year 3. With no concession: $3,940/mo at 7.40% (7.856% APR).
Your scenario
Loan type
This seller accepts Conventional, FHA.
3%Loan $569,05020%
Plus about $138/mo mortgage insurance, not included in P&I.Cash to close with no concession: $41,869 ($29,950 down + $11,919 est. closing costs, including estimated taxes and insurance).
Credit score (for the mortgage insurance estimate)
Changes the mortgage insurance estimate only. The rate stays the same.
Conventional caps seller concessions at 3% of the price ($17,970) with under 10% down. Cash to close is your down payment ($29,950) plus estimated closing costs and prepaids of about $11,919. Seller credits can pay closing costs, never the down payment.
What's in the $11,919 estimate
Lender fees (no points)$1,640
Appraisal, credit & other services$1,262
Title & settlement$1,534
Recording$140
Prepaid interest (15 days)$1,731
Homeowners insurance (first year)$1,500
Insurance escrow (3 months)$375
Property taxes (9 months: prepaid + escrow)$3,737
Typical Indiana fees, without discount points or an owner's title policy. Taxes and insurance use this listing's figures when the agent entered them. Your Loan Estimate will show actual costs.
$14k price cut
Lowers the price and the loan
Available
New home price$585,000
Was $599,000New loan $555,750
Monthly payment (principal & interest)
Every month$3,848/mo
−$92/mo
Cost to seller$14,000
Cash to close (est.)$41,128
Saves $92/mo
1-0 buydown
Lower rate in year 1
Unlocked
Monthly payment (principal & interest)
Year 1$3,559/mo
−$381/mo
Year 2 on$3,940/mo
—
Cost to seller$4,567
Cash to close (est.)$32,435
$9,433 left for closing costs
2-1 buydown
Lower rate in years 1–2
Unlocked
Monthly payment (principal & interest)
Year 1$3,195/mo
−$745/mo
Year 2$3,559/mo
−$381/mo
Year 3 on$3,940/mo
—
Cost to seller$13,502
Cash to close (est.)$41,370
$498 left for closing costs
3-2-1 buydown
Lower rate in years 1–3
Locked
Monthly payment (principal & interest)
Year 1$2,850/mo
−$1,090/mo
Year 2$3,195/mo
−$745/mo
Year 3$3,559/mo
−$381/mo
Year 4 on$3,940/mo
—
Cost to seller$26,587
Cash to close (est.)$41,869
Needs $12,587 more
Permanent buydown
Discount points lower the rate for the life of the loan
Ask a lender
The seller's money can also pay for discount points, which lower your rate for as long as you keep the loan. Unlike a temporary buydown, you'd qualify at the lower rate. Point pricing changes daily and differs by lender. Ask a loan officer for today's options.
Cash to close (est.)Estimate; see disclosures$29,950
Cost to seller$14,000
Covers all ~$11,919 of closing costs. Credits can't pay the down payment, so $2,081 would go unused.
Important disclosures
Rate as of week of October 15, 2026: 7.40% sample rate, based on the Freddie Mac Primary Mortgage Market Survey weekly average for a 30-year fixed-rate mortgage. All figures on this page are estimates for illustration only. They are not a loan offer, a rate quote, a Loan Estimate, or a commitment to lend.
BuyDown Indy is an educational tool. It does not provide tax, legal, or financial advice. Talk to a licensed loan officer and a tax professional about your situation.
$14k from seller1 / 1