Reduce Your New Home Mortgage Rate with a Seller Buydown

Many live/work lofts require loft specialist lender for successful mortgage loan and escrow.

REAL ESTATE NEWS (Los Angeles, CA) — Home sales have dropped off substantially over the past few months due to higher interest rates. One of the best solutions is to have the seller provide an incentive in the form of a buy-down to help reduce the home loan interest rate and allow lower monthly payments.

Some real estate developers and new construction home sellers are offering up to $30,000 in inducements to help prospective home buyers get into a shiny, sparkling new residence.

Purchasing a new home is a big decision and one that requires a lot of thought and consideration. With interest rates on the rise, many potential buyers are finding it harder to afford the home of their dreams. However, there is a solution that can help reduce the cost of a home loan and make it more affordable for buyers. This solution is known as a seller buydown.

A seller buy-down is when the seller of a home provides an incentive to the buyer in the form of a lump sum payment. This payment is used to reduce the home loan interest rate and lower the monthly payments. This can be a great way for buyers to afford a home that they otherwise might not have been able to afford.

Real estate developers and new construction home sellers are starting to offer up to $30,000 in inducements to help prospective buyers get into their new homes. This is a great way for buyers to save money on their home loan and lower their monthly payments. It also helps sellers to move their inventory and sell more homes.

The process of a seller buydown is relatively simple. The seller provides a lump sum payment to the lender, which is used to reduce the interest rate on the home loan. The lender then passes on the savings to the buyer in the form of lower monthly payments. This can result in thousands of dollars in savings over the life of the loan.

For example, The monthly payment for a $600,000 home with 20% down at a 6% interest rate would be approximately $2,914. If the seller provides a $30,000 incentive, then the payment could be reduced to $2,913. That’s a $101 per month savings. In some scenarios, the payment could be even lower. It’s worth noting that this is just an estimate, and there are other factors that can affect your monthly mortgage payment such as property taxes, insurance, and private mortgage insurance (PMI) if your down payment is less than 20%.

It’s important to note that not all sellers will offer a buydown, so it’s important for buyers to ask about this option when shopping for a home. It’s also important for buyers to understand the terms and conditions of the buy-down, as there may be restrictions or limitations.

In conclusion, a seller buydown can be a great way for buyers to save money on their home loan and make it more affordable. It’s important for buyers to ask about this option when shopping for a home and to understand the terms and conditions of the buydown. With a seller buydown, buyers can take advantage of the opportunity to save thousands of dollars over the life of their home loan and make the dream of homeownership a reality. To get qualified to access $30,000 in seller buy down incentives for an easier home purchase, call the Corey Chambers Team 213-880-9910.

Industrial and commercial conversion live/work loft buyers often need to use a loft specialist lender in order for the mortgage funding and escrow to be successful. Request a free list of loft lenders. Fill out the online form:

Copyright © This free information provided courtesy L.A. Loft Blog with information provided by Corey Chambers, Broker CalDRE 01889449. We are not associated with the seller, homeowner’s association or developer. For more information, contact 213-880-9910 or visit LALoftBlog.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.

River House New Los Angeles Condos Under Construction – Special Update

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The L.A. Loft Blog is not affiliated with River House

New condo homes for sale are nearing completion along the LA River that are unique because they actually face the river instead of facing away from it.  This marks a turning point in the history of the Los Angeles River as there is now a section that is beautified enough to create a natural view. With an earthen bottom, water, fish, trees, waterfowl, kayaking and a bicycle and walk path, the neighborhood is the proving ground and launchpad of what will be one of the largest revitalization projects in history, the restoration of the L.A. River.

The River House condominiums are right next to the bike path and river, and next door to the new Marsh Park.  Complete with subterranean parking, many of the units have balconies facing the river.

Here are the newest photos of the development under construction:

Request updates with property descriptions, photos and early viewing. Get on the New Homes Interest List. Fill out the online form:

Copyright © 2015 This free information provided courtesy L.A. Loft Blog and LAcondoInfo.com with information provided by Corey Chambers, Realty Source Inc, BRE#01889449 The L.A. Loft Blog, Realty Source Inc and Corey Chambers are not affiliated with River House or Anastasi Development. For more information, contact (213) 880-9910 or visit LAcondoInfo.com Licensed in California. All information provided is deemed reliable but is not guaranteed and should be independently verified. Properties subject to prior sale or rental. This is not a solicitation if buyer or seller is already under contract with another broker.