There’s no sugar-coating that 7% interest rates are double what we saw this time last year, but unfortunately, it doesn’t look like they’re coming down any time soon 😬. If you’re currently house shopping, here are a few tips on how to make that monthly payment a bit more affordable. The great news is that many of these can be negotiated as seller-paid costs due to the normalized market: 💵 Interest Rate Buy-Down: Upfront fee to permanently lower your interest rate; Typically lowers your rate between .25-.5% per point paid (but this can vary, so best to check with your lender first) 🏡 2-1 Buy-Down: Your rate is lowered by 2% the first year and 1% the second before returning to the original interest rate on year 3+. You do need to qualify for the full monthly payment, but this can give you a bit more breathing room during the first few years of ownership. 📈 Adjustable Rate: A reduced rate for a set number of years (often 5, 7, or 10) and then a market adjustment for the remaining duration of the mortgage. This can be a good choice if you’re not planning on staying in your home longer than the duration of the fixed term…you just need to make sure you understand what you’re signing up for. 💰 Down Payment Assist Programs: Make sure you’re leveraging any program that helps boost your down payment or provides cost assistance for the homebuying process. Higher down payments and lower fees mean lower monthly payments 🙌🏼 #mortgagerates #homebuying #homeownership #firsttimehomebuyer #dreamhome #houseshopping #househunt #mortgagetips #buyersagent #atlantafinehomes #atlantafinehomessir #atlantarealestate #atlantarealtor #alpharettaga #alpharettarealestate #alpharettalrealtor #interestrates #realestateadvisor #homeaffordability