Own-2-3 Purchase
$500,000 Purchase Price
Cost of Own-2-3 Service: $5,189.97
Seller Concessions toward closing costs: $15,000.00
5% Down Payment: $25,000.00
Closing Costs, Homeowner’s Insurance (example): $11,000.00
Seller’s Concessions pay all the closing costs and the first year of Homeowner’s Insurance…with $4,000 left over to buy the rate down.
Total Out of Pocket: $25,000.00 down plus $5,189.97 to HomeStart for Own-2-3 service. Total of $30,189.97
Rate (example) - 5.000% after buydown
Principal & Interest: $2,549.90