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How can I get a low mortgage rate?

Is now the right time to buy down your mortgage interest rate? While some argue buydowns are best in a strong seller’s market, let’s consider the buyer’s perspective.
A buydown can be advantageous when you anticipate interest rates staying stable or rising. While predicting future rates with certainty is impossible, short-term projections (within the next year, for example) offer more reliable insights. This makes the present moment potentially ideal for a buydown.
Affordability is another key factor. If your ideal monthly payment is achievable at a lower interest rate, but current rates make it unaffordable, a buydown could bridge the gap. With rising home prices and persistently high mortgage rates, a buydown can be a practical solution. It’s also a valuable strategy if you expect your income to increase in the coming years but need to purchase a home now.
What if rates decrease after you buy down? Fortunately, you can always refinance to take advantage of lower rates.
But what many people don’t know is that the seller of a home can can give you the money for the buydown. This must be requested, negotiated and written into a purchase contract upfront. Choose to work with a real estate agent that has experience and knows how to help with a buydown.

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