Texas Homebuyer Tool

    Compare the real value of a seller or builder credit.

    Put the same available credit toward a temporary buydown, a quoted permanent rate reduction, or eligible closing costs and see what each choice actually changes.

    Seller Credit Comparison

    Test three uses of the same available credit.

    Use actual lender quotes for the permanent rate and its cost. A temporary buydown changes the payment schedule, not the note rate. Taxes, insurance, HOA dues, and mortgage insurance do not decrease.

    01 · Shared scenario

    Taxes, homeowners and flood insurance, HOA, and mortgage insurance.
    Full payment used for planning
    $3,378.27 / month
    $2,528.27 principal and interest plus $850.00 other housing costs.

    Temporary buydown

    Year 1 payment at 4.50%$2,876.74
    Year 2 payment at 5.50%$3,121.16
    Permanent payment after buydown$3,378.27
    Subsidy required$9,104
    Credit position$5,896 remaining
    Payment relief in 5 years$9,104

    Permanent rate reduction

    Monthly housing payment$3,248.20
    Monthly payment reduction$130.07
    Credit position$7,000 remaining
    Payment reduction in 5 years$7,804
    Simple cost recovery61.5 months

    Closing-cost credit

    Monthly housing payment$3,378.27
    Credit applied to closing costs$12,000
    Estimated cash preserved$12,000
    Closing costs left to cover$0
    Unused credit$3,000
    How to read this comparison

    Temporary relief may help early cash flow. A permanent reduction may benefit a borrower who keeps the loan long enough. A closing-cost credit may preserve the most cash at closing. The best use depends on the actual quotes, eligible costs, expected time in the loan, and program limits.

    Educational estimate only. This is not a Loan Estimate, approval, or recommendation. Temporary buydown funds are deposited into a subsidy account and are not free savings. Qualification generally uses the full note-rate payment. Seller, builder, and lender credits, temporary buydowns, discount points, and eligible closing costs are subject to loan-program, interested-party contribution, underwriting, and transaction limits. Shalanda Smith · NMLS #554554 · Secure Choice Lending · NMLS #1689518.

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    Shalanda Smith, NMLS #554554

    Keys by Shalanda is the personal brand of Shalanda Smith, operating under Secure Choice Lending, NMLS #1689518. Licensed in Texas by the Texas Department of Savings and Mortgage Lending.

    Company office: 1650 Spruce St., Suite 500, Riverside, CA 92507 · Serving homebuyers across all of Texas

    Texas SMLNMLS Consumer Access

    Texas Consumer Complaint Notice

    Consumers wishing to file a complaint against a mortgage banker or licensed mortgage loan originator should contact the Texas Department of Savings and Mortgage Lending, 2601 North Lamar, Suite 201, Austin, Texas 78705. Toll-free: 1-877-276-5550. sml.texas.gov

    All loans are subject to credit approval. Rates and terms are subject to change without notice. This is not a commitment to lend.

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