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Many people fall out of the home buying market when interest rates start to go up. This is often a mistake. Many of the best mortgages deals become available when lenders are competing for new business and sellers are competing within a smaller buyer pool. You just have to know how to keep the costs down in order to counter the higher interest rates.

One of the best tricks is the buy-down. In a buy-down, a fee is paid at the closing to get a lower interest rate. In a soft market, an anxious seller may be lured into to paying all or part of the buy-down. Another approach is to get the seller to pay some of closing costs, thus lowering the amount of cash a buyer needs to close. Frequently the seller's costs can be used as a write-off by the buyer. Always consult with your tax advisor if you are considering such an arrangement.

If the market is softening due to rising or higher rates, the price itself becomes an area where a buyer may be able to save a lot of money on a house through skillful negotiating. Lower prices mean lower loan amounts, so don't be discouraged by higher rates--use them to your advantage.

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Regina Harp, Broker Associate
Guarino Real Estate
Jefferson Hwy.
Suite D
Baton Rouge, LA 70817
Direct: 225-744-HARP
Cell: 225-953-3901
Regina Car: 225-953-3903 or 3901
Email: Regina@reginaharp.com

Regina Harp is a Multi-Million Dollar Producer and the Broker Associate. She was ranked as the #3 Realtor in the state of Louisiana with Remax. Find THOUSANDS of Homes Listed through MLS, School Board Maps and Reports, Pictures, FREE Comparative Market Analysis, First Time Buyers Program, plus lots of Information for Baton Rouge real estate, Gonzales real estate, Prairieville real estate. We owe our success to adhearing to our Motto ... YOU WIN IN LIFE BY HELPING OTHERS...You will see when we work together that Our Goal Is to Accomplish YOUR Goal, and our concern will be for our client's happiness...by consistently going above and beyond the call of duty.

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