Do not waste your money! Here is the BEST way to spend a $10K seller credit🏡💰

When it comes to buying a house, you need to think about how any seller credit can impact you the MOST.

Post-inspections, during the request for repair stage, sellers usually prefer giving a monetary credit over doing the repairs themselves.

If you’re in this situation, you might question why not just lower the price of the home instead of receiving a credit?

Let’s explore an example in which you receive a $10K credit from the seller ⤵️

Lowering the price by $10,000 reduces your mortgage, but the effect is relatively minor – it might decrease your monthly payment by around $30-$50 a month. That’s not a huge difference in your monthly budget. 🫤

So what to do? The most effective way to utilize the $10,000 is to accept it as a credit. You can apply this towards your closing costs, which reduces your out-of-pocket expenses dollar for dollar. 💵

OR, in the current market conditions, you could use it for a rate buy down, significantly decreasing your monthly mortgage payment. 🙌🏾

To talk through what might make sense for you, reach out! 🦸🏾‍♀️ 📧 leah@leahguerrahomes.com 📲 310-945-8232

***This is all subject to your loan and lender’s approval so you’ll need to strategize with your agent and lender! And this is also different from negotiating the very best purchase price upfront as well, also KEY 🔑🙂