If you are buying a new property we understand it can be an overwhelming process establishing a loan and getting your payments, and down payments, and fees, etc.
We hope you can find a lender you trust whether it’s your bank or a credit union or a broker. With such an ever-changing industry there are always new solutions and ideas out there for how to make your real estate purchase possible for you and profitable for the seller.
There is a program called the “seller buy down” or some variation of the same in which the seller pays your lender the fees necessary to lower your interest rate.
This could allow you to purchase the same home and have significantly lower monthly fees, and may be a nice option instead of trying to negotiate the price down.
The other way we have seen the seller buy down concept utilized is to greatly and non-proportionally increase the purchase price of a home you can afford, holding your monthly payments the same.
We’ve created a custom calculator to help illustrate this potentially confusing real estate purchase concept.
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