Below is an example of the savings from a $400,000 30-year loanwith a standard interest rate of 5%
| Loan Year | Interest Rate | Monthly Payment | Monthly Savings | Annual Savings |
|---|---|---|---|---|
| 1 | 3% | $1686.42 | $460.87 | $5,530.44 |
| 2 | 4% | $1909.66 | $237.63 | $2,851.50 |
| 3-30 | 5% | $2,147.29 | $0 | 0$ |
The buyer would be expected to pay an interest rate of 3% the first year, 4% the second year and 5% from years 3 – 30.
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