Buying a Home? 6 Ways to Get a Lower House PaymentBefore you decide a home’s monthly payment is too high, let’s make sure we have looked at everything that goes into it.Everybody wants a lower mortgage rate. So do I. But when I help someone plan a home purchase, I do not want the conversation to stop at that one number.Your loan structure matters. So do the property taxes, homeowners insurance, mortgage insurance and HOA dues. Together, those costs help determine whether a home fits your monthly budget. The opportunity is to work on those expenses before you buy, while you still have decisions to make.Here are six areas I want homebuyers and their agents to review.1. Compare permanent and temporary buydownsA buydown deserves a place in the purchase conversation, but we need to distingui...
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