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Making Your Move in 2024's Market: Seller's Buydown

Greg Pilling • October 8, 2024

Finding the perfect home and securing a competitive mortgage rate are two crucial steps in the homebuying journey. One strategy that can help you achieve both is a seller-paid rate buydown. But how exactly does that work?

What Is a Buydown?

Think of a buydown as an investment that unlocks savings. In a buydown, the seller contributes funds to lower your interest rate, which translates into a lower monthly payment for you. This can mean more buying power, allowing you to qualify for a higher loan amount or make your monthly payments more manageable—without increasing the overall cost of the home.


How Can a Buydown Benefit Sellers?

For sellers, buydowns can be a strategic tool to stand out in a competitive market. Imagine a house priced at $400,000, with rising interest rates pushing the monthly payment out of your budget. A $20,000 price cut might help, but that’s a big loss for the seller. Instead, they could offer a two-point buydown, lowering your rate and reducing your payment to a comfortable level, all while keeping more profit on their side.


A Win-Win for Buyers and Sellers

Seller-paid buydowns can be a win-win for both buyers and sellers. As a buyer, you gain more purchasing power and secure a lower monthly payment. Sellers attract qualified buyers and potentially close deals faster.


Want to Learn More?

Want to learn more about buydowns and other loan options? Leave a comment or contact me directly—I’m here to help you navigate the homebuying process.

greg pilling in a suit and tie is standing in front of a house.

Brokers vs. Banks: Which should YOU choose for your mortgage?

By Greg Pilling • March 28, 2025
When you're shopping for a mortgage, your first instinct might be to call your bank. That's a safe choice—until you realize it's also a limiting one. At Current Mortgage, we're independent mortgage brokers. That means we can give you access to more choices, better rates and a truly personalized loan experience. That's because we work on your behalf—not for any one lender. We shop your loan across a wide range of lenders to find the program, rate and terms that work best for you. Banks, on the other hand, can only offer their own products. If you don't fit their criteria, you might be denied—or end up with a loan that just isn't your best option.
greg pilling in a suit and tie stands in front of a model house

What are Non-QM loans? Greg Pilling explains!

By Greg Pilling • March 28, 2025
Ever been told you “Don’t fit the mold” when applying for a mortgage? A non-QM loan might be just what you need. At Current Mortgage, we believe great borrowers don’t always come with cookie-cutter financial profiles. That’s where Non-QM (Non-Qualified Mortgage) loans come in. These loan options are for people who may not meet the traditional income, credit or employment standards of conventional lenders—but who still deserve to own or invest in a home.
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