Are you seeing indications and advertisements encouraging you to buy a new home now, despite the current rate environment? Things are changing and changing rapidly, it’s just an ongoing fact of life. So why should you seriously consider buying that property you’ve had your eye on now?

Here’s some useful products and strategies we can use to help you step into that dream home soon.

First up, a mortgage rate buydown could help save money on your interest rate during the first part of the loan term. Some things to consider would be how long you plan to live in the home and the cost to buy the rate down. By paying a few discount points at closing, it’s possible to get a lower interest rate on your loan. Homebuyers often benefit from a mortgage rate buydown.

Also, seller concessions could impact your mortgage. While rare in a seller’s market, they can be helpful in a buyer’s market. Basically, seller contributions are closing costs that the seller pays to help lighten the amount of cash a buyer needs to have on hand for closing. If you go with a conventional loan, negotiating seller concessions could be an option once we have agreed on your down payment amount.

Then there’s the tried-and-true strategy of negotiating. Times are changing. We are seeing an increase in home inventory resulting in longer listing times, so this might be a great time to negotiate a better deal on the property. With shifting rates comes shifting mindsets, we should be able to come to the table with a solid strategy that does not include bidding way over the asking price.