Financing

Finance Options and Cost-Saving Strategies

Home financing is not one-size-fits-all. Understand the tools that may improve affordability, reduce monthly payments and create long-term savings.

Know your options

Look beyond the interest rate.

Traditional 30-year fixed loans are only one part of the picture. The right strategy depends on your timeline, monthly budget, upfront resources and long-term goals.

Explore the options below, then speak with qualified lending and real-estate professionals about what fits your situation.

Interest rate buydowns

Paying upfront points may lower your rate, reduce monthly payments and generate meaningful savings. Seller contributions may sometimes help cover the cost.

Temporary 3-2-1 and 2-1 buydowns

These programs lower the effective rate during the first years of ownership before returning to the original loan rate.

Adjustable-rate mortgages

ARMs commonly offer an initial fixed period at a lower rate before later adjustments, potentially fitting shorter ownership or refinancing timelines.

15-year vs. 30-year financing

Shorter terms can build equity faster and reduce total interest, while longer terms generally create lower monthly payments.

Extended-term financing

Longer loan terms may reduce short-term monthly costs but generally increase total interest paid over the life of the loan.

Rate lock and shop programs

Some lenders allow buyers to lock a rate while searching, offering protection and more certainty in changing markets.

Seller and creative financing

Seller financing, lease-to-own structures, assumable loans and land contracts may offer flexibility in specific circumstances.

Homebuyer assistance programs

Federal, state and local programs may provide down-payment assistance, lower-rate options or tax credits that reduce upfront costs.

A strategic approach

Build a plan around the whole picture.

The strongest financing decision balances monthly affordability, cash at closing, long-term interest, future plans and risk—not just the advertised rate.

1. Clarify your timelineHow long do you expect to own the home?

2. Compare total costsReview payments, fees, points and lifetime interest.

3. Ask about assistanceIdentify programs you may be able to combine.

4. Coordinate the teamAlign your agent, lender and financial professionals.

Thinking of buying a home?

Start with a clearer plan.

The existing detailed home-search form—including neighborhood, timeframe, price, bedroom and bathroom preferences—will remain connected in implementation.

Open the connected buyer form