Erin Bell - Real Estate

1️⃣ Buy the house you can afford, not the maximum the mortgage lender thinks you can afford.⁠
2️⃣ Don’t dismiss school districts - even if you don’t have kids. Buying in a sought-after district will come in genius at resell.⁠
3️⃣ It’s okay if you don’t have a 20% down payment. Just talk with a reputable lender ASAP to see which loans are right for you. ⁠
4️⃣ Don’t be afraid to walk. Title issues, an overwhelming inspection, or a nagging hunch that won’t quit? You’re the buyer. You’re in charge. And you can walk at any point. ⁠
5️⃣ Buying is costlier than renting. You’ll be your own landlord now, so you’ve got to factor repair costs, utilities, and furniture into your budget. Another reason to revisit number one above.

You may have heard this term thrown around recently, but what exactly is a 3-2-1 Buydown, and what does it mean for you?

With a 3-2-1 Buydown, the buyer’s interest rate is reduced by 3% in the first year, 2% in the second, and 1% in the third. Obviously, this can be an absolute game changer with current rates above 7%.

But this doesn’t necessarily just benefit the buyer. As a seller, offering this solution can move buyers off the fence and get your home sold faster. In a market where we’re seeing price reductions daily and homes sitting on the market, a 3-2-1 Buydown could make all the difference in selling your home at the price you want!

If you’d like to learn more, shoot me a message!

Climbing mortgage rates have slowed the pace of the market, but will they continue to climb? And if so, how high? 👀
Read our September Newsletter 📰 to find out what the experts are saying! 8z.com/newsletters