For a given home price of $235,000, the monthly mortgage is computed using a 3.5% down payment ($8,225) and a 4.99% annual interest rate, spread over 360 payments.
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Seller May Contribute to Buyer Expenses Up To $7,050
Seller May Contribute to Buyer Expenses Up To $7,050
This reflects a seller's willingness to consider a concession/contribution toward a buyer's expenses but is not a guarantee. Buyer and seller may negotiate a contribution, if any, in relation to the purchase contract. Any contribution from the seller may be used by the buyer at their discretion for items like closing costs, repair expenses, interest rate buy-down, etc.
This calculator is illustrative, but your unique situation will best be served by seeking out a purchase budget pre-approval from a reputable mortgage provider. Start My Mortgage Application can provide you an approval within 48hrs.