Take advantage of a rate buydown to help buyers reduce monthly payments.
At a time when everyone seems to be talking about how rising interest rates are pricing buyers out of the market, it is a game changer to know about one effective strategy a seller can offer that helps buyers purchase the home without breaking the bank: offering credit for a rate buydown.
The 3% interest rates we saw a few months ago are very different from the 7% interest rates we have right now, and buyers are looking at what they can afford for their monthly payments. If things are out of a buyer’s price range at the current interest rate, sellers can offer a credit that buys down that rate to a level that gives the buyer an affordable monthly payment. It’s a fabulous win-win scenario. We’ve used this strategy with our clients a few times very recently, and everyone has come out happy.
If you’re thinking of selling your home right now but don’t think you can because everybody’s telling you that interest rates are going to stop you, or if you’re thinking of buying right now and you feel like the higher interest rates are going to price you out, reach out to me and we’ll work out a rate buydown. Call or email me anytime, and I look forward to hearing from you.