A conversation I have been having with my homebuyer clients recently is: 

Price reduction = Opportunity

When the seller does a price drop, usually $5,000 - 10,000 or more, why not offer the original sale price and ask for a matching credit?

Example: A property is originally listed at $300,000, then does a price drop to $290,000. Why not offer $300,000 and have the seller pay for all of your closing costs AND reduce your first year interest rate by 2% and your second year by 1%?

Did you know there are two ways a seller can help reduce your monthly payment? 

Instead of taking a $6k sales price reduction, the seller can reduce your monthly payment by 2% the first year, and 1% the second year. That’s a $360/month reduction in the first year, and $180 reduction year two for a typical Milwaukee mortgage! This is called a temporary rate buydown, or a 2/1 buydown.

OR!

Instead of taking a $6k sales price reduction, the seller can permanently lower your rate by about .75% – for 30 years! That’s a $150/month reduction forever on a typical Milwaukee mortgage!

There are creative ways to make your home more affordable while we wait for rates to go down!

Questions? As always, give me a call or text at 414-488-0438