How to Fight Rising Interest Rates

Many would-be buyers are concerned because they want to purchase a home but can’t quite afford it because interest rates have risen. Luckily, we have a technique that can help you afford the home that has inched out of reach.

We can ask the seller to buy down your interest rate. How does that work? Suppose you’re buying a $1.5 million home. Your payment will be roughly $6,7000 per month. If you ask the seller for a $12,000 credit, that will reduce your payment to a more affordable $6,400. That may not sound like a lot of money, but it will help in the long run. Plus, it helps sellers by opening up their buying pool.

If you have any questions about how the buydown option works or anything else to do with real estate, give us a call or send us an email. We’d love to help you with your real estate needs.