Listing Agents: Price Drop vs Rate Drop ( Seller Buy Down)
Published 1 month ago
These higher interest rates will impact buyers' qualifications if you have not noticed. The higher rates are also beginning the "price drops " trend, which sellers use to help attract affordable housing for buyers.
But, most sellers don't know or can show the actual numbers on how that impacts buyers. This inability to show the numbers and knowledge of how dropping the rates has a more significant impact on a buyer's payment than lowering a sales price could ever have.
Price vs. Rate -
Did you know, and I can show you through this side-by-side comparison, how a PRICE DROP of 20k compared to a 20k RATE DROP (SBD) impacts a potential buyer's payment? The rate drop triple the savings to that buyer payment, and if you took that new lower payment, that's like dropping the price by 60k!
Seller Buy Down -
I wanted to show you how an SBD works and how the Buyer & Seller can benefit when the SBD + is structured within a purchase transaction. ( videos below )
Please find us on Google : Joann Wong Mortgage Broker
20K Price Drop vs 20k Rate Drop Comparison
Drop Price vs SBD (600K)
National Rate Averages
Conf. 30Y Fixed
FHA 30Y Fixed
Jumbo 30Y Fixed
Rate averages are calculated from actual locked rates. Learn more.