3-2-1 Mortgage Buy Downs

Let's be honest. Buying a home is an expensive endeavor. Obviously, the price alone can make you blush, but I am really talking about the cash flow issue. Between down payments and fees, things can get tight pretty quick. One way to get some relief is to ask the seller of the home to do a 3-2-1-Mortgage buy down. Yes, the seller. Sellers are having problems moving their properties, so you have the leverage. Many will make the lump sum payment as part of the purchase to buy down your interest rate. The reduce payments you will get from having your interest rate cut the first three years can provide you with the room you need to recover your cash position.