Spencer Mason
Real Estate Agent
Curious how much it costs to buydown a rate? Use our rate buydown calculator to see the cost and benefits of a rate buydown…!
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will connect you with a mortgage loan officer to go through your specific scenario.
The total buydown fee for this loan is
$
The buydown fee is the cost of lowering your interest rate for the first few years of your loan. This is usually paid by the seller and passed on to the buyer as savings in the form of a lower interest rate.
Yearly Mortgage payments breakdown:
Year 1
$1,740.83
Monthly Payment
Buyer Savings:
Year 1
3.25%
Original Payment
$2,462.87
New Payment
$1,740.83
Monthly Savings
$722.04
Annual Savings
$8,664.48
3/2/1 Buydown Cost (Seller Paid)
$17,654.52
Estimated Taxes & Insurance
Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.
Estimated Buyer Savings
$
Loan amount
$
Down payment
$
Base Interest rate
Loan term
Taxes & insurance included?
Property tax
Homeowner's insurance
$
HOA dues
$
Payment Breakdown By Year
Amortization
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $ (the amount borrowed)
- Interest payments: $ (the cost of borrowing)
Spencer Mason is a dedicated realtor serving the Upper Cumberland region of Middle Tennessee, committed to providing personalized and stress-free real estate experiences for both buyers and sellers. Born in Danville, KY, and raised in Celina, TN, Spencer has deep roots in the local community and now resides in Cookeville with his wife, Maggi, and their six children.
With a solid background in construction logistics, Spencer brings a keen eye for property potential and a comprehensive understanding of home construction and maintenance. His dedication to helping others is evident in his commitment to delivering exceptional service, ensuring open communication, and crafting tailored strategies to achieve the best possible outcomes for his clients.
Beyond real estate, Spencer is passionate about uplifting and encouraging others, whether through his love of music or his unwavering support of his community. Known for his strong work ethic and determination, Spencer fights for his family, friends, and clients, always striving to exceed expectations.
Whether you’re looking to buy or sell a home in the Upper Cumberland area, Spencer Mason is the realtor you can rely on to guide you through the process with confidence and peace of mind.
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