Eyeing that perfect house but feeling a bit flustered by the talk of high mortgage rates? Don't let those numbers scare you off just yet! Here are some nifty tricks to navigate these high rates. Think of them as your secret weapons to bag that dream home, even when rates are playing hardball.
Let's dive into seven smart moves that could make those seemingly daunting rates work in your favor!
Seller Sweeteners: Ever heard of seller concessions? Picture this: sellers covering a chunk of your closing costs, throwing in a shiny home warranty, or even leaving behind some dreamy appliances. When rates climb, sellers are often more game to negotiate these goodies.
Closing Cost Cushion: Feeling the pinch of those upfront costs? Some programs offer a helping hand with closing costs. It's like a financial cushion, making those initial expenses more manageable.
Rate Buydown Magic: Negotiate a rate buydown with the seller or play the discount points card. These moves could temporarily shrink that daunting interest rate.
Flexible Flexibilities: Being open to adjusting your closing timeline or showing wiggle room on home repairs might just make sellers take your offer.
Fix-It Credits: Home repairs cropping up during inspections? Negotiate for credits to cover those fixes. It's like getting a helping hand to tackle unexpected expenses.
Down Payment Delight: Look into local or federal down payment assistance programs. These can be a lifesaver, especially when rates are high.
Lock in That Rate: Psst, here's a pro tip! Ask for a rate lock. It's like putting a fence around your rate, guarding you from future increases while your loan's in the works.
Remember, each concession comes with its own magic and might affect your overall deal. That's why it's crucial to partner up with a savvy mortgage professional like us and a real estate professional. We'll help you weave these concessions into a master plan tailored just for you.
We've been helping customers afford the home of their dreams for many years and we love what we do.
Company NMLS: 1660690
Individual NMLS: 1162957
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This is not an offer to enter into an agreement. This is not a commitment to make a loan. Not all customers will qualify. Information, rates and programs are subject to change without prior notice. All products are subject to credit and property approval. All approvals are subject to underwriting guidelines. Not all products are available in all states or for all dollar amounts. Other restrictions and limitations may apply. VA loans subject to individual VA Entitlement amounts and eligibility, qualifying factors such as income and credit standards, and property limits. NEXA Mortgage, LLC is not affiliated with any government agencies .These materials are not from VA, HUD or FHA, and were not approved by VA, HUD or FHA, or any other government agency. Copyright © 2020 NEXA Mortgage, LLC NMLS#1660690. AZMB#0944059. 3100 West Ray Rd Ste 201 Chandler, AZ 85226,
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Hixson, TN 37343
Phone: (423) 664-7423
dkolbus@nexamortgage.com
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