09/02/2026
7 ways to lower your monthly house payment 🏡
1. Temporary buydown — A 2-1 buydown can significantly lower your interest rate and monthly payment for the first couple of years.
2.Permanent rate buydown — Paying discount points upfront can lower your interest rate for the life of the loan.
3.Rent out part of your home — A roommate, basement apartment, or other rental space can help offset your monthly housing costs.
4.Refinance — If rates drop in the future, refinancing could lower your interest rate and monthly payment.
5.Reduce or remove mortgage insurance — Depending on your loan and equity, you may be able to eliminate mortgage insurance or explore paying it upfront.
6.Put more money down — A larger down payment means borrowing less, which can result in a lower monthly payment.
7.Buy a smaller home — Sometimes the simplest way to lower your payment is to lower the purchase price.
