Price reduction or rate buydown: which should you ask for?
A lower purchase price and a lower mortgage rate solve different problems. Compare the payment, upfront cash, and how long you expect to keep the loan.
Read the guide ↗What happens if the appraisal is below the purchase price?
A low appraisal can change your financing and cash requirements. Start by understanding the numbers and the options in your purchase contract.
Read the guide ↗How do you compare two mortgage quotes?
Look beyond the headline interest rate. Compare the same loan scenario, upfront costs, and the time you expect to keep the mortgage.
Read the guide ↗About these guides
Published by Eric Murray Home Loans for general education. Examples are hypothetical. Source links let you explore the underlying guidance, and your own financing should be evaluated using current lender terms.
Eric Murray is a Senior Loan Officer with Westin Mortgage, NMLS #2667183, and a certified residential appraiser. Learn about Eric.