Tools
Pam & Barry's Team (580) 248-8800 · pamandbarry.com · info@homes-lawton.comDustin Ray, Buyer Specialist · 580-351-4683 · dustin@homes-lawton.com
Lawton and SWOK. Property tax and homeowners insurance are set to real local numbers, so the payment you see is close to the one underwriting will see. Change anything you want. Everything recalculates.
Print or save this as a PDF and I'll email you a copy of the exact scenario on screen, then follow up with what's actually listed in this payment range.
Down payment stays at whatever each program's realistic minimum is. Change the numbers above and this moves with them.
| Program | Down | Loan | P&I | Mortgage ins. | Total payment |
|---|
Zero down and no monthly mortgage insurance. On a median Lawton home that's worth real money every month compared to the other two, and it's cash you keep at closing.
This solves for the purchase price where the whole payment equals the allowance. It's a reference point, not a pre-approval. Plenty of buyers spend past BAH out of base pay, and a second income changes it completely.
Where the full payment lands exactly on the allowance, at the rate and loan type you picked above.
Lawton's median sale price is $199,500 year to date.
What base pay or a second income would need to cover to reach a median-priced house.
Homeowners insurance on that max-price house, as a share of the allowance.
| Grade | BAH | Max price | Share of median |
|---|
Sellers here are closing at 98.5% of list, so they don't cut much off the number. The same dollars spent buying the rate down move the payment a lot further. This shows the difference on the deal in front of you. For the full comparison, including a 2-1 temporary buydown and what it costs to set up, use the Rate Buydown vs Price Cut tool.
| Option | Price | Rate | Total payment | Vs. no concession |
|---|
Extra monthly savings from putting the money into the rate instead of the price.
Same seller cost either way. This is what the structure is worth to you over the life of the loan.
Either way the seller gives up the same dollars. A concession is often easier for them to say yes to than a price cut.
The rate drop per point is a placeholder until the lender on the file gives you a real cost sheet. Lenders price points differently every week, and a temporary 2-1 buydown works nothing like a permanent one. Concession caps also run by program: VA 4% of value, FHA 6%, conventional 3% under 10% down and 6% at 10% or more. Confirm all of it with the lender before you count on it.
Straight arithmetic, no pitch. Last year a buyer who paused twelve months watched the median go from $183,000 to $199,500 and the rate go from 6.35% to 6.76%. Set your own assumptions and see what a repeat looks like.
On a $199,500 house at 6.76%.
Same house, priced forward at your assumptions.
That's what twelve months costs on the same house.
| Rate | P&I | Total payment | Vs. today | Buying power at today's payment |
|---|
On a Lawton median loan, 100 basis points is worth about $133 a month, or about $19,200 of purchase price at the same payment. That's the number to keep in your head when you're deciding whether to wait.
These are the local defaults. Change them here and every tab updates. A real quote always beats an estimate, so replace these with actual numbers once you have them.
This is an estimate for shopping, not a loan estimate, a pre-approval, or a quote. Taxes, insurance, and mortgage insurance all get set by somebody other than me. Your lender runs the real numbers, and those are the ones that go in an offer.