This is how you save six figures on a home purchase 👇
A lot of people don’t realize this but…
one of the biggest expenses of homeownership is mortgage interest.
Here’s how to save BIG:
✔️ Shop Around for Lenders: When getting pre-approved, you have a 14-45 day window where multiple lenders can pull your credit without affecting your score. Get quotes, ask for written closing cost estimates, and compare both rates and fees.
✔️ Switch to Bi-Weekly Payments: By making bi-weekly payments instead of monthly ones, you’ll make an extra payment each year, saving you a ton in interest over time.
✔️ Make an Early Payment: Your first mortgage payment skips a month. If you close in September, your first payment is due in November. But if you make a payment in October, you decrease your principal right away, saving you thousands in the long run.
✔️ Look into Grants & Programs: Many states and banks offer reduced mortgage rate programs for first-time buyers. Grants are also fantastic because you’re borrowing and paying interest on less money.
✔️ Negotiate Rate Buy Downs: There are permanent and non-permanent rate buy downs that sellers can help pay for, depending on your negotiating power.
✔️ Refinance When Rates Drop: Buying before rates drop means less competition and likely a lower sales price. If rates do drop, you can refinance and enjoy the best of both worlds.
Ready to take the leap into homeownership? Comment “READY” and let’s start this exciting journey together! Not quite ready yet, but thinking about buying soon? Smart planning starts now. Comment “GUIDE” and I’ll send you an invite to a FREE Zoom consultation where you’ll learn how to navigate the current market challenges and discover how to avoid costly mistakes!
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