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Your buyers just got their inspection back and they want to ask the seller for $10,000.

Do they ask for a price reduction or seller paid closing costs?

Most agents default to the price reduction. But a $10,000 price drop only saves about $60 a month.

That same $10,000 in seller concessions could fund a 2-1 buydown and save hundreds of dollars a month in the first two years.

In this week’s Monday Market Update, Nikki Erickson from Kevnik Mortgage walks through a real scenario from an agent call last week and breaks down the math so you can have this conversation with confidence.

This week we are covering:
✅ Interest rate update — upper sevens on a 30-year fixed conventional, lower sevens with a buydown
✅ Why buyers pre-approved months ago need to check in with their lender now
✅ Seller paid closing costs vs price reduction after inspection
✅ The real math on a $400,000 purchase — what $10,000 off actually saves each month
✅ How to use seller concessions for a 2-1 buydown
✅ Why how long your buyers plan to stay matters
✅ The $6 per thousand rule of thumb
✅ Whether rates could rise again before year end and what is driving them
✅ Why the 2-1 buydown is a power tool in this market

The general message this week is simple. Do not default to asking for a price reduction. Get your lender involved, run the numbers for your buyer’s situation and budget, and let the math decide. Numbers do not lie.

Example figures are for illustration only — every buyer’s scenario is different, so always run the numbers with your lender.

Share this with every buyer agent you know.

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📞 Connect with Nikki Erickson at Kevnik Mortgage:
📱 Call or Text: 952-484-1584
📧 Email: nikki@kevnikgroup.com
📘 Facebook | TikTok | Instagram:
@mortgagesfrommntoaz

00:00 Introduction – Week of October 12th
00:08 Interest Rate Update – Upper Sevens and Why Buyers Should Recheck Their Pre-Approval
00:45 Seller Paid Closing Costs vs Price Reduction – A Real Inspection Scenario
01:20 The Math – What a $10,000 Price Reduction Really Saves Each Month
01:55 Using Seller Concessions for a 2-1 Buydown
02:40 Having the Conversation With Your Buyers – Let the Lender Do the Math
03:05 How Long They Plan to Stay and the $6 Per Thousand Rule of Thumb
03:35 Rule Changes – A Welcome Lull
03:50 Will Rates Go Up Again Before Year End?
04:25 The 2-1 Buydown Power Tool and How to Reach Nikki

#realestate #lender #mortgagerates #mortgagerates

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Angie Gerber
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