Looking to buy in this market but not sure how? Here are some tactics that might help! 1. Depending on the current sellers Mortgage, you might be able to assume their loan, which includes their remaining balance, repayment balance, and interest rate. The most common assumable loans are FHA, VA, and USDA loans. Keep in mind, even if the loan is assumable you still might need to meet certain requirements from their current lender. 2. ARM loans (Adjustable Rate Mortgage) Pros: Often have lower interest rates than fixed-rate mortgages. Lower rate means you might be able to pay more principal every month. Rates can go down later. Cons: Rates can rise over time. Certain caps can cause negative amortization. Your monthly payment can fluctuate. You don’t know what your financial situation will be when rates change. 3. “Seller Concessions” aka seller credits can be used to either buy down the interest via permanent rate buy down, or temporary buy down(2-1 buy down or 3-2-1 buy down). They can also be put towards closing cost. Finally, they can be used to make fixes to the home! Even though nearly 42% of sellers gave concessions during the last 3 months of 2022! I’m still running into a lot of buyers who are unaware of this tactic. Also keep in mind this tactic wasn’t something that buyers were able to take advantage of in the previous competitive market when interest rates were low. Hope this helps and as alway, feel free to reach out with any questions or if you need help buying or selling! 🤙🏾 *disclaimer, I am not a lender so reach out to a lender to get more info about loan programs. _________________________________________ 📸: #homebot #homebuyertips #sellerconcessions #sellercredit #armloans #assumableloan #assumablemortgage #teamworkmakesthedreamwork #windermereagent #morethanjustahome #sellertips #heretohelp