August 26, 2026
Savvy shoppers have long known the value of stacking coupons to maximize savings. Today’s homebuyers can take a similar approach by combining multiple homeownership incentives to help reduce upfront costs and monthly payments.
Here are a few opportunities that may be available to “stack” for a more affordable home purchase:
Lower Your Payment with a Temporary Rate Buydown
A temporary mortgage rate buydown allows the home seller (or another eligible party) to pay upfront to reduce your interest rate for the first one to three years of your loan. The result? Lower monthly mortgage payments during those early years, giving you more financial flexibility as you settle into your new home.
Explore State and Local Homebuyer Assistance Programs
Many state housing finance agencies and local housing authorities offer programs designed to make homeownership more affordable. Depending on where you live and your eligibility, you may qualify for:
- Down payment assistance
- Closing cost assistance
- First-time homebuyer grants or affordable loan programs
Even if you’ve purchased a home before, some programs are available to repeat buyers, so it’s worth exploring your options.
Take Advantage of Available Tax Credits**
Homeownership may also come with valuable tax benefits. After you purchase your home, visit IRS.gov or consult a qualified tax professional to learn about credits and deductions that may apply to your situation. If you make eligible energy-efficient improvements, be sure to review IRS Form 5695 to see if you qualify for additional tax credits.
Let's Build a Homebuying Strategy That Works for You
Every buyer’s situation is different, and the best savings often come from combining the right programs. If you’re planning to purchase a home this year, we’d be happy to discuss your goals, review available loan options, and help identify incentives that could make homeownership more affordable.
A quick conversation today could help you save more tomorrow.
Source: Fannie Mae
** Directors Mortgage does not provide tax advice. Please consult a qualified tax professional regarding your individual tax situation.