Did the latest climb in mortgage rates take a bite out of your home budget and have you rethinking your move?
If you’re aiming for a $2,000 monthly payment, that rise in rates cut about $22,000 from what you can spend. That’s a lot.
But what if you could close the gap? While headlines focus on lost buying power, they’re not calling enough attention to how seller concessions can offset that blow.
More than 40% of homes for sale have had a price cut, and the typical cut on a median-priced home is around $18,000. That alone could win back most of what rates took.
And you could get back even more by asking for repair credits or closing cost help, too.
How much a seller will negotiate depends on the house and the area. Send a DM to find out how much of that $22,000 you could get back around here.