About The Teacher's Fund

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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Margery Jordan
Intracoastal Realty
1900 East Wood Rd Suite 38
Wilmington, NC 28403
Mobile: 910-619-7414
Direct: 910-509-7414
Toll Free: 800-533-1840
Fax: 910-256-4248
margery@margeryjordan.com

My real estate philosophy is different from other realtors. I focus 100% of my efforts on providing the most qualified, economical, and satisfying service to each client. I pay extra attention to the details and work to solve any issues in a discreet fashion, making each closing a pleasure for my clients. My expertise, determination, and integrity make me the only choice for your realtor!