10/27/2026
HOME BUYERS, HERE’S A PRO TIP THAT COULD SAVE YOU HUNDREDS EVERY MONTH!
When negotiating on a home, don’t focus only on getting the seller to lower the purchase price. You may have another option that could make a BIGGER difference in your monthly mortgage payment!
Let’s look at an example:
Purchase Price: $550,000
Option 1: Ask for a $16,500 Price Reduction
A lower purchase price can reduce your monthly principal and interest payment, but the savings may be relatively small.
Option 2: Ask for a $16,500 Seller Credit
Depending on your loan program, lender guidelines, and the terms of the transaction, an eligible seller credit could help pay for discount points to buy down your interest rate.
The potential benefit? A lower interest rate could mean a significantly lower monthly payment and potentially thousands of dollars in savings over time!
Important: The actual savings depend on your interest rate, loan amount, down payment, loan program, and the cost of buying down the rate. Seller concessions are subject to program limits, and credits generally cannot exceed eligible closing costs and permitted expenses. The $572 monthly savings in this example is not guaranteed.
My advice? Before you negotiate, let’s compare the numbers. Sometimes, the smartest deal isn’t the lowest purchase price—it’s the one that gives you the best overall financial outcome.
Thinking about buying a home? Let’s discuss your options before you make an offer!
Constance Edwards | Mortgage Loan Officer
Barrett Financial Group, LLC
904-243-5316
[email protected]
NMLS 2681482
