How to get a lower payment when buying a house #financialfreedom #mortgagetips

7 Jul 2023

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A seller-funded 2-1 buy-down on a $400,000 house saves you $476 a month in year one versus $60 a month from negotiating $10,000 off the price. The seller gets the same money either way.

I don't think you're ready for this one, but I'm telling you, the math is real. I'm going to actually show you the numbers on this.
So let's say you find a property for $400,000 and you want to offer $10,000 less.
You'Re going to get it for 390.
By doing that, you're going to save approximately $60 a month, which isn't bad. But check this out. If you were to keep the price at 400,000 and use that $10,000 towards a 2.1buy down, you would save in year one, $476.
A month, and in.
Year two, $244 a month. Now, this is huge, which makes this.
The much better choice. And it gets you through the first two years of owning that property with a much lower monthly payment. And here's the thing, for the seller, it works out the exact same. They net the same amount of money, so they don't even care.