Preparing to buy a home can sometimes feel like learning to play chess. You understand the individual pieces (in this case, credit scores, down payments, & interest rates), but you may not know how they all fit together and affect one another. You’re aware that there are many options, but you don’t know which options are the right options (in the right order!) to help you achieve your goal. That is, until someone with experience can help you interpret all the variables and make a game plan.
That’s exactly what happened when we met Karen.
Karen is a single mom who had been renting for years. Like many people, she dreamed of one day owning a home, but the idea felt out of reach. Bills were tight, and she assumed she'd need a massive 20% down payment to even be eligible to buy. She wondered, "Will I ever be able to buy a home?"
But everything started to shift when we introduced Karen to a great lender.
That conversation changed everything. Sitting down with a lender gave her clarity she didn’t know she was missing. Together, they reviewed her credit score, ran the numbers, and walked through what she’d actually need to buy a home—not based on assumptions, but on her real financial situation. That included laying out her interest rate, estimated monthly payment, and total cash needed to close, including the down payment and closing costs. Once we had the full financial picture, we were able to create a game plan.
The strategy that made the biggest difference for Karen? Cash concessions.
Many people think getting the lowest purchase price should always be the top priority when buying a home, but the real goal should be a financing structure that meets your needs.
There’s no one-size-fits-all approach. Some buyers want the lowest monthly payment. Others want to minimize the cash needed to close. Some want help with updates to the home. In some cases, buyers use cash concessions to buy down their interest rate, which can make a huge difference in their monthly payment. The key is to work with a lender and agent who will help you understand all of your options and choose the best strategy for your goals.
With a solid plan in place, Karen found a home she loved, and we submitted a strong, strategic offer that aligned with her financial comfort zone. As you can expect, her offer was accepted—and she was able to close more quickly than she imagined (AND with brand new plumbing to replace the original cast iron pipes, but that’s a story for another day!)
Instead of just focusing on getting the lowest price for the home, we used concessions from the seller to cover some of Karen’s closing costs, leaving her with extra funds for moving expenses, future repairs, and peace of mind.
Today, Karen is a proud first-time homeowner. She’s no longer wondering if it’s possible—she’s living it.
If you, too, find yourself dreaming of homeownership, we can connect you with a lender who can help you chart a path forward. Let us take away the guesswork! 📞 Give us a call at (972) 916-9646 and let’s start your journey.
