© 2026 Aaron Scott. All rights reserved. The Rate Mirror™ and “Rates Move. Buyers Don’t Change. Their Budgets Do.” are trademarks of Aaron Scott. The design, graphics, written content, and the selection, arrangement and presentation of this tool are original works protected by U.S. and international copyright and intellectual property laws. No part of this tool may be copied, reproduced, framed, scraped, modified, republished, distributed or used to create a derivative or competing tool without Aaron Scott’s prior written permission. Unauthorized use will be pursued to the fullest extent permitted by law.
Rates: Optimal Blue Mortgage Market Indices™, 30-Year Fixed Rate Conforming Mortgage Index (OBMMIC30YF), retrieved from FRED, Federal Reserve Bank of St. Louis. Daily and monthly national averages of locked rates. Your rate depends on credit, down payment, loan type, loan size and points.
Payments: 30-year fixed, principal and interest plus property tax, homeowners insurance and HOA. Includes mortgage insurance where the loan program requires it. Excludes closing costs and APR. Default property tax is an estimated effective rate for the City of Franklin in Williamson County.
2-1 buydown: seller-funded escrow equal to the payment difference for 12 months at 2% below and 12 months at 1% below the note rate. Most conventional programs qualify the buyer at the note rate.
Rate buydown: discount points estimated as the present value, at today's average rate, of the buyer's lower payments over an expected loan life of 5 years plus 1.5 years for each 1% of reduction, reflecting slower refinancing at lower rates. At current rates this is about 1 point for the first 0.25% and rises with each step, up to 2.00% total. Reductions beyond about 1.00% are uncommon, are offered by fewer lenders, and may be limited by lender pricing caps and federal points-and-fees limits for qualified mortgages. One point equals 1% of the loan amount. Lenders reprice daily; actual cost and availability vary. The tool picks the lowest-cost mix of points and price that restores the earlier payment.
Loan programs: Conventional private mortgage insurance is estimated at 0.36% per year at 10% down and 0.52% at 5% down, for a 740–759 credit score, borrower-paid monthly; actual premiums vary by credit score, insurer and coverage, and PMI can be removed as equity grows. FHA includes a 1.75% upfront mortgage insurance premium financed into the loan and a 0.55% annual premium. VA includes a 2.15% first-use funding fee financed into the loan; veterans with service-connected disabilities may be exempt. Today’s rates use the matching Optimal Blue index for each program, as of the date shown, and update each business day. Past monthly rates are conventional averages; for FHA and VA they are adjusted by today’s difference between that program and conventional rates. Loan amounts are subject to county loan limits.
Seller concession limits: conventional loans for a primary residence allow 3% of price with under 10% down and 6% with 10% to 25% down. FHA allows 6%. VA limits concessions to 4%, and some costs may not count toward that limit.
Aaron Scott is a licensed real estate agent, not a mortgage lender, mortgage broker or mortgage loan originator, and does not take loan applications, offer or negotiate loan terms, or quote rates. Rates, payments and buydown costs shown are general estimates from public market data and the inputs you enter. Loan approval, rates, points and terms are set only by a licensed lender. Neither Coldwell Banker Southern Realty nor Coldwell Banker Realty is a lender.
Coldwell Banker® is a registered trademark of Coldwell Banker Real Estate LLC. Each office is independently owned and operated. Equal Housing Opportunity.
For education only. Not a loan offer, rate quote, commitment to lend or legal or tax advice. Consult a licensed mortgage loan originator for a quote.
