Seda Real Estate Group

If you’re planning to buy a home in the Oklahoma City metro, chances are you’ve been zeroing in on one number: the purchase price.

That makes sense. It’s the number everyone talks about. It’s the number on the listing.

But it’s not always the number that matters most.

In today’s market, one of the biggest mistakes buyers make is negotiating the wrong thing—and it can quietly cost them more than they realize.

The Mistake Many Oklahoma City Buyers Are Making

It’s common to hear buyers say, “If I could just get the price down, this house would work.”

On the surface, that feels like the right approach. But it doesn’t always lead to the best financial outcome.

“At the end of the day, most people don’t make their housing decisions based on the purchase price, they make their decisions based on their monthly payment or how much they’re needing to pay out of pocket up front,” says Becky Seda, with Seda Real Estate Group.

Shifting your perspective from sales price to payment matters more than most people think.

Because while price is important, it’s rarely the deciding factor in whether a home actually works for your life.

Why Payment Often Matters More Than Price

Most buyers aren’t making decisions based on the total purchase price alone. What they’re really trying to figure out is whether the home fits into their monthly budget and how much cash they’ll need upfront to make it happen.

That’s where things can get interesting.

In some Oklahoma City transactions, there may be room to negotiate how money is applied within the deal. And while many buyers instinctively want every dollar to go toward lowering the purchase price, that isn’t always the most strategic move.

One option that could really change the scenario is a Rate Buy Down.

Understanding the Role of a Rate Buy Down

Rate buy downs are often overlooked or not understood.

A mortgage rate buydown allows a buyer (or sometimes a seller) to pay money upfront at closing in exchange for a lower interest rate on the loan, which can reduce the monthly payment.

For some buyers, that lower monthly payment is what makes the home feel comfortable instead of stretched.

For others, reducing upfront costs, like closing costs, may be the bigger priority.

Let’s look at an example of how this could play out in real life.

Imagine you’re buying a $250,000 home in the Oklahoma City market with a conventional 30-year loan and a 5% down payment. That puts your loan amount around $237,500. At a 7.0% interest rate, your principal and interest payment would be roughly $1,580 per month.

Here’s where it may start to get confusing. But stick with me.

Let’s say you negotiate $5,000 from the seller.

If you apply that $5,000 toward the purchase price, your monthly payment drops to about $1,548—a savings of roughly $30 per month.

Most buyers immediately think, “Great, let’s lower the price.” But what if you used that same $5,000 differently?

Instead of reducing the price, you apply it toward a rate buy down. Depending on the lender and market conditions, that could bring your interest rate down to around 6.25%. That change would lower your monthly payment to approximately $1,460. That’s a savings of about $120 per month.

So instead of saving $30 per month, you’re saving closer to $120 per month. That’s nearly $90 more each month, over $1,000 per year, and potentially tens of thousands of dollars over the life of the loan.

This is why it’s important to look beyond the purchase price.

A lower price might feel like a win upfront, but a lower payment is what you live with every single month. And in many cases, that’s what determines whether a home truly fits your budget.

(It’s important to talk with your agent and lending officer about the best options for you. If you plan to refinance soon, or if minimizing upfront costs is the priority, a different approach may make more sense.)

Every buyer’s situation is different. Loan terms, financial goals, and long-term plans all play a role in what makes the most sense.

That’s why focusing only on the list price can be limiting.

Sometimes negotiating a lower price is absolutely the right move. Other times, structuring the deal to reduce your interest rate or your upfront costs may put you in a stronger position.

The right approach depends on what actually helps you—not just what looks best on paper.

Ask Better Questions, Get Better Outcomes

Instead of focusing only on “What’s the price?”, here are some questions buyers should be asking:

• What will the monthly payment look like?
• How much cash will it take to close?
• Which option actually makes this home affordable?

Those are the questions that lead to better decisions.

“The goal is not just to negotiate, the goal is to negotiate the thing that helps you the most,” says Seda.

Final Thoughts

Buying a home is one of the biggest financial decisions you’ll make, and the details matter.

If you’re considering buying a home in the Oklahoma City metro, take the time to look beyond the listing price and understand how different strategies impact your overall cost. Sometimes, the best deal isn’t about paying less for the house, it’s about making the numbers work better for your life.

If you have questions about this, or if you are looking to buy or sell a home in the Oklahoma City metro area, our team would love to help. Give us a call at 405-400-9973.

Falling in love with a home at first sight, or visit, can often blind buyers to potential deal-breaking flaws. Before you make an offer on a home, here are the most important dos and don’ts of house hunting in Oklahoma City.

First, let’s take a look at the DOs.

One thing we recommend you do is drive through the neighborhood at different times of day. This will help you to know if there are any potential traffic issues that may happen, or maybe you can tell if people in the neighborhood or out walking or talking with each other.

We also recommend that you have a list of non-negotiable and carry it with you. It’s easy to walk into a home and see all of the beauty, and then temporarily forget the things that you must have to make a home work for you.

One question buyers often ask is if it’s OK to open drawers or cabinets. If it’s part of the home (a kitchen cabinet or drawer, or hallway storage, etc.) then you are allowed to open it. We’ll talk about the things we shouldn’t open in a moment.

Another DO that is big in 2025 is DO remember that most homes have cameras. It’s important to recognize this because you will want to know that any conversations you have could be being recorded and could even play into your ability to negotiate, if you choose to make an offer on a home.

Lastly, when it comes to DOs, remember that you do have an inspection period. You don’t have to know everything about a home during the showing. If you decide to make an offer and later find that the home has an issue that you are not willing to deal with there are options to back out. Be sure to discuss this with your real estate agent.

Now for some DON’TS.

Don’t plan to see too many homes in one day. Occasionally, for people who fly in to find a home for an upcoming move or for those with other unique circumstances, it is necessary to see multiple homes in a day. The problem with seeing several homes in one day is that the details start to blur and it becomes difficult to remember which house had which features you loved (or didn’t love). When possible, we would recommend not seeing more than 3 to 5 homes in a day. And if you do need to see several in a day make sure you are keeping detailed notes about each home. Those notes will come in handy at the end of the day when you are reflecting on what you saw.

Next, don’t talk about your motivation for buying or any other personal details while you are in a home. As mentioned earlier, many homes have cameras and so if you disclose that information it could potentially impact future negotiations or conversations about the property. Likewise, be careful discussing things you don’t like about the home. Someone watching could be offended, which might make them less willing to negotiate later.

Don’t interact with pets. If a pet is left in a home it is likely scared or nervous. The best course of action is to leave it alone as to avoid any unfortunate incidents. We do recommend to our sellers that they not leave pets home during a showing; however, sometimes it’s just not possible.

(For sellers, this is what we recommend: Tips For Pet Owners When Selling A Home)

While we encourage buyers to bring their children with them when looking at homes, it’s important that your children not play with toys or other items in the home. It can be very tempting to play with another child’s toys while they are there, but it’s best to not do so.

Don’t snoop through furniture. While it is perfectly OK to open drawers that are built into a home, opening furniture that may not stay with the home is not OK.

Lastly, don’t feel pressured to make an offer on a home. If you feel that a home does not check the boxes for your non-negotiables then there’s no reason to make an offer. Keep looking and when you find the home that does check those boxes then you can discuss making an offer with your realtor.

It’s important when you are shopping for a home that you keep these things in mind. Our team has helped hundreds of buyers navigate the OKC market. We would love to help you, too.

If you have questions about the market, or anything else real estate related we would love to help. You can reach us at 405-400-9973.

Oklahoma is known for natural disasters, like tornados and even flooding and earthquakes. Unfortunately, for homeowners, those disasters have led to increased insurance costs, in recent years.

There’s no denying home insurance rates in Oklahoma are high. In fact, the average home owner pays $6,210 per year, that’s 194% higher than the national average, which is $2,110 per year, according to NerdWallet.

In recent months, our team at Seda Real Estate Group has noticed that buyers are checking rates more closely when deciding whether or not to buy a home.

Those rates, combined with current mortgage rates have many home buyers re-evaluating their budget.

So why are rates so much higher in Oklahoma?

The easy answer is the weather. Oklahoma is best known for tornadoes, but other large weather related events, like flooding and wildfires have led to rate increases each year. Earthquakes are also a factor.

The Oklahoma Insurance Department offers advice on their website to Oklahomans who are curious about how to get the best rates — suggesting things like shopping around to different insurance companies or increasing your deductible.

The insurance department does suggest that those buying or already owning a home in Oklahoma consider adding additional coverage to cover things like earthquakes and sewer/water backups, which are not typically covered by a standard plan.

While it’s important to understand these factors when buying a home, they don’t have to be deal breakers for your overall goal. They may rule out a particular property or require some budget adjustments — but they don’t mean you can’t buy a home.

The Oklahoma Insurance Department also has an article with suggestions on how you may be able to lower your home insurance rates. You can find that here.

If you have questions or are interested in buying or selling a home we would love to help. Give us a call at 405-400-9973.

Why, at SREG, we have different agents for sellers and buyers

It’s not uncommon for a real estate agent to represent both a seller and a buyer in a home transaction. In fact, we’ve even heard of agents that will “discount” their services if they represent the buyer and seller.

“In Oklahoma, it is perfectly legal for one agent to represent the buyer and the seller,” said Becky Seda, lead agent at Seda Real Estate Group. “People do it all the time.”

However, at Seda Real Estate Group, we choose NOT to represent both sides of a contract.

Here’s why.

Relationship

First, our listing agents often work with clients for months before their house is officially listed. They know their motivations for selling and their goals.

“I believe they have hired me to get them as much money as possible on their property,” Seda said.

Whereas, a buyer is typically expecting their agent to help them save as much money as possible.

“For me, I feel like there’s a conflict of interest between those two,” Seda said. “I make no judgments about how others do business, but for me I choose to keep them separate.”

That’s why at Seda Real Estate Group we have a team of agents. With listing agents and buyers’ agents working to ensure their clients get the best deal. The team approach ensures that whether an agent is working with a buyer or a seller they are fully focused on their client.

Trust and Loyalty

Which brings us to the next reason. By working with just one side, clients can trust their agent’s advice.

“I like to make sure my client never wonders what my motivation is,” Seda said. “My motivation is always to be their advocate and fiduciary through the process.”

Another reason, representing both sides could bring about questions of loyalty.

“Our loyalties lie with our clients — whether buying or selling,” Seda said. “I don’t want there to ever be a question in their mind as to who I am focused on working for. I am always focused on my client.”

Sellers and buyers should always expect their agents to respect and honor their confidentiality. By not having one agent representing both sides, we can continuously work to help our clients reach the goals they have shared with their agent.

“We’re not going to disclose a seller’s motivation to sell or a buyer’s motivation to buy, and I would never want to be accused of that,” Seda said. “But once an agent has that knowledge, we wouldn’t want that to come out in our negotiation style one way or another.”

Our Team Approach

When an unrepresented buyer calls from one of our yard signs or they find an online listing, the buyers’ agents in our office can work directly with them, ensuring they have an agent dedicated to helping them.

Again, in Oklahoma, it is completely legal for an agent to represent both sides of a contract.

If you would like to learn more about the Seda Real Estate team or have questions about buying or selling a home, reach out. Our team is here for you. Give us a call at 405-400-9973.

You found the “perfect” home, only to later learn that the appraisal came back short of the contract price. The shock can leave you scrambling for answers and fear over what happens next.

Before you panic, here’s what you need to know to navigate the situation and, hopefully, keep your deal on track..

Understanding the appraisal process

When you purchase a home with a home loan, the bank or lending establishment is going to bring the bulk of the money to closing. Because of that they typically require that the home’s value be assessed. They do this to ensure that it is a good investment for them, before they fully agree to fund the loan.

A low appraisal does not necessarily mean that the home was overpriced.

“Sometimes a seller has their property listed at a price where there simply are not a lot of comparable sales for the appraiser to use in approving the value of that home,” said Becky Seda, lead agent for Seda Real Estate Group, in Oklahoma City.

What’s next?

A low appraisal does not have to be a dealbreaker. Here are a few steps to help you navigate the process.

The first thing to do if the appraisal comes back low is to have your buyer’s agent provide comps to the appraiser to show why the home’s value could be higher.
If that doesn’t work, get the listing agent involved. They can provide details and documentation about why the home was priced a certain way.
If that doesn’t work, you can order another appraisal. There will be a cost associated with this option. Typically, in Oklahoma, appraisals start at about $650 and go up in cost from there.
Another option is to “bridge the gap.”

Bridging the gap, in this case, means filling in what the bank will not cover. This can be quite confusing, but let’s try to explain it some.

When you buy a home with a loan there will be a minimum down payment required. The amount is based on the type of loan. For example, with a conventional loan, the bank might require a 5% down payment, meaning they’ll lend 95% of the sale price. However, if the property appraises for less than the sale price, the bank will only lend 95% of the appraised value. This means the buyer must either cover the difference to make up the gap, negotiate with the seller to reduce the price, or meet somewhere in the middle.

*If this is something you are facing, we strongly suggest you talk with your agent and the lender to fully understand what the change in your down payment would be.

Negotiations

The next option is to go to the seller and renegotiate the sale price. That happens quite often.

“If you really believe the home was overpriced and the price of the appraisal is the true value of the home, then you can tell the seller, ‘I’m not going to pay more than the appraised value,’” said Seda.

Ultimately, if you and the seller cannot see eye to eye, under normal terms of the Oklahoma contract, you and the seller can part ways. In this case, you would get your earnest money back. However, you would still be out the cost of the appraisal(s) and inspections. But, you are not forced to purchase the home and the seller is not forced to sell you the home for less than the contract price you had initially agreed upon.

If you have questions about this process our team would be happy to help. Give us a call at 405-400-9973 or email us at contact@sedarealestate.com.

One of the most common questions people have when buying a home is, “How do I know if the neighborhood is safe?”

“The tricky part is that safety is subjective,” said Becky Seda, lead agent of the Seda Real Estate Group, in Oklahoma City. “What I think is safe, you may not think is safe.”

Seda has three tips for buyers who are wanting to know more about the safety of the neighborhoods where they are shopping for homes.

1. Check crime statistics

Most local police departments have online crime data records regarding crime statistics for the area. In many cases, you can see what type of crime has happened and how recently. Checking this information can give you an insight into the neighborhood and help you in your decision making.

Other sites like NextDoor and SpotCrime track records, as well. The FBI even has a Crime Data Tracker where you can research an area’s crime history.

2. Check school ratings

Next, look at the ratings for schools in the area.

Generally speaking, the better the school ratings, the higher the taxes are in that area. Highly rated schools may also mean that homes in the area don’t stay on the market long because people are working to move to that district. That could result in more competition.

3. Check out the neighborhood

Our final tip, drive through the neighborhood at various times of the day.

What are you seeing in the morning, mid-day and/or evening? Are there people or families out walking their dogs? Do you see children playing or people working in the yards? Does it feel like a place you would be comfortable?

Ultimately, your real estate agent cannot make the choice for you or decide whether you would feel safe in a particular neighborhood.

“It’s a liability issue for us, as agents,” Seda said. “If we were to say, ‘Yes, this is the safest neighborhood,’ and then you make this huge purchase of a home, and a year later your car or your home get broken into then you might be upset with us.

“So for liability reasons we always ask you to do your research and dig into the data before you make that purchase.”

If you are looking to buy or sell a home, let our team at Seda Real Estate Group help you. We have the experience and knowledge you need on your side to help you navigate the real estate market.

It’s a common misconception that real estate agents don’t really do much when it comes to helping people buy a home. The reality is that perception could not be farther from the truth.

“No matter your job, there’s always the public perception of what you do for a living and then there’s the reality of what you do for a living,” said Becky Seda, lead agent for Seda Real Estate Group, in Oklahoma City.

When buying a home, a buyer’s agent is your key to getting the best deal.

So what should a real estate buyer’s agent do for you? Here’s a guide on what you should expect from your real estate agent when you are shopping for a home.

More Than Just Searching Online For Homes

“The public tends to think that we open doors and find houses and that is absolutely a part of our job, but I don’t believe that that is the deep value of what you should be expecting from your buyer’s agent,” said Seda.

With so many websites available for searching for homes, many buyers are now able to search for homes online, narrowing down their likes and dislikes.

While a buyer’s agent will also be searching for homes, you should expect their search to be deeper than what you may be able to do on your own.

“Let’s say, for instance, you are really wanting to get into a certain neighborhood. We have a ton of resources to make that happen,” said Seda. “Now, we’re not miracle workers, but because of the huge network that we have we are able to find out about properties that may not even be on the market yet.”

Your buyer’s agent should also be willing to door knock or otherwise make contact in neighborhoods to find out if there are homeowners who might be interested in selling.

“You should be expecting your agent to be doing more than just having a basic home search set up for you. They should be willing to really dive in and door knock, put out feelers, and really do in-depth searching for homes,” Seda said.

Pointing Out Red Flags

You should also expect your buyer’s agent to be on the lookout for red flags. Whether it’s cracks in walls or helping you stay focused on the list of ‘must haves’ you really want in a home, a buyer’s agent is there to help you look beyond the initial tour of a home.

“A lot of people think it is our job to make you fall in love with a house and that’s not really it,” said Seda. “We want to point out the things that maybe you don’t see on the first go round, so a crack or something that’s not in alignment with what you’ve told us.”

Run In Depth Research

A real estate agent should be running in-depth research for you on the home you decide you want to purchase. When you decide you want to make an offer on a home, your buyer’s agent should be looking at the data on the home and the market to ensure you are getting a good deal.

Buyer’s are generally emotionally involved in the process, which can make it difficult to see potential issues. Your agent is there to take a step back and look at the data and analytics.

“We can run the data and know that a house down the street sold for $30k less than this two months ago,” Seda said. “I don’t want you to get in a situation where we’re going to have appraisal issues and then you’ve spent all this money on appraisals and inspections, and then it doesn’t appraise and the sellers are not willing to negotiate. We need to be aware of that up front.”

Your agent will do their best to help you avoid spending money unnecessarily on a property.

Inspection Reviews and Negotiating Repairs

Inspecting a property before you buy it is a necessary part of purchasing a home. Your buyer’s agent should encourage you to have your “new” home inspected. They will also help ensure you are following the contract and adhering to necessary deadlines regarding the inspection and making requests for potential repairs following the inspection. Failure to meet those deadlines could result in financial or legal consequences, and your agent will work to help you avoid those issues.

When you purchase a property it becomes yours, all its defects included. An inspection can help you prepare for any potential issues. Once the inspection is complete, your agent can help you to understand the inspection report and can even help you to navigate what issues may be most important to address before closing on the property.

From there, your agent should help you to negotiate repairs with the seller.

“We are never going to tell you what to do or what not to do, but we’re going to weigh in with all of our experience to help you know what could cause bigger problems down the road,” Seda said.

“We are your advocates. We do not want you to spend too much money on your house. We do not want you to miss anything on your inspection and ultimately, when you get to the closing table we want you to be so excited to get the keys and not have any trepidation or concerns.”

If you choose not to inspect the home you are buying, the agent will likely have you sign a form saying they told you to inspect it, but you chose not to do so. For liability reasons, this form is necessary should you choose to decline an inspection.

Paperwork

And lastly, your buyer’s agent should ensure that your paperwork is all done correctly so when you get to the closing table you are confident in your decisions and ready to move into your home.

“As agents, it’s our job to be there to offer clarity and past experience that can help a buyer to make the best decision. This is a huge investment and we want them to feel confident in it,” said Seda.

If you are ready to start your home buying experience, we have buyers agents ready to sit down with you. Give us a call at 405-400-9973 or email us at contact@sedarealestategroup.com.

There’s a nationwide change in real estate that you need to know about, especially if you may be in the market for a new home! It’s not a scam. The changes are actually the result of a court settlement earlier this year involving NAR (National Association of REALTORS).

What’s Changing?

Starting August 17, 2024, realtors will no longer be able to show you any home unless you have signed a Buyer-Broker Agreement beforehand. This is a direct result of a lawsuit (specifically Burnett v. National Association of Realtors) involving NAR.

The Basics

A series of antitrust lawsuits filed against NAR regarding seller commissions is what led to the settlement. NAR was accused of engaging in practices that unfairly inflated commissions for real estate agents.Under the agreement, NAR is making changes to how agents and buyers interact. The goal is to increase transparency in commission disclosures, and ensure a more competitive and fair commission structure within the real estate market. At Seda Real Estate Group, we have always believed in transparency and look forward to continuing to make it a priority for our clients.

Since the settlement was announced in March, there’s been a lot of misinformation circulating. It’s important to those of us at Seda Real Estate Group to make sure you know the facts and how they will impact you, moving forward.

Why Is This Important?

Most people are not familiar with the term buyer-broker agreement and so it may be surprising or even concerning to a consumer to be presented with this.

Previously, you could tour homes with an agent and not worry about signing paperwork until you got closer to finding your dream home. However, now, you must sign this agreement before seeing any property.

“Just the fact that you are going to need to sign a piece of paper to go inside of someone’s home is a HUGE change,” said Becky Seda, lead agent for Seda Real Estate Group.

This isn’t something we, as realtors, wanted, but it’s a requirement we must follow. With that being said, at Seda Real Estate Group we have always advocated for transparency. It is our hope that this change will help buyers to feel more informed and more confident throughout the process.

What Is A Buyer-Broker Agreement?

A buyer-broker agreement is a contract between you and your realtor stating you’ll work together for a designated period of time. It outlines the roles, duties, responsibilities, and commissions for the realtor.

“It basically says I am your agent, you are my buyer, we’re working together,” Seda said. “It outlines how much I get paid and how I get paid. Lots of transparency.”

Generally, you can sign a buyer-broker agreement for a single day or for a longer period, depending on your needs. You should also have the ability to end the agreement, should you decide the arrangement is not working for you.

At Seda Real Estate Group, our team will be working to ensure buyers understand the agreement — what it is and how to cancel it —BEFORE it is signed. It is still our belief that transparency throughout the process is essential.

No matter who your buyer’s agent is, it’s important to make sure you read and understand the paperwork. The buyer-broker agreement should outline what you can expect from the agent and how it can be canceled.

Beware of any agreement that does not include details on how it can be canceled. You should never feel that you are “stuck” with an agent.

Why You Shouldn’t Be Upset With Your Realtor

Please remember, we’re being forced to follow this rule. We know it’s different and it may make some people uncomfortable, especially at first. However, we have to follow the rules set by NAR. And, ultimately, when used for its intended purpose, it will benefit you as a consumer. Transparency is a good thing!

If, after August 17, 2024, a realtor isn’t asking you to sign this agreement, be cautious – if they aren’t following this rule, they might be breaking other rules that could affect you legally.

We Are Here to Help!

We’re committed to guiding you through these changes and ensuring you understand every step. If you have questions or need help with buying or selling a home, reach out anytime. We are your Oklahoma City realtors, but we can also assist with referrals nationwide.

Give Seda Real Estate Group a call if you have questions about how this impacts your next real estate transaction. 405.400.9973.

There’s a huge misconception in the world of real estate that buyers need to pay 20-percent down when buying a home. In fact, it’s often one of the things that holds people back from starting the home buying process. However, it’s simply not true.

You do not need to pay a 20-percent down payment to buy a home in Oklahoma, in 2024.

What do you need? Well, that depends on the type of loan you are getting. Ultimately, a lender or mortgage company will help you figure that out. But there are many options out there.

0% Loans

There are a few programs that offer ZERO PERCENT home loans to qualifying candidates. One of those is a VA, or Veterans Affairs, loan. A VA loan is a mortgage loan guaranteed by the United State Department of Veterans Affairs. These loans are typically available to servicemembers, veterans and their surviving spouses.

USDA loans, also known as the USDA Rural Development Guaranteed Housing Loan Program, often offer zero-percent homes loans. These loans may require that you live in certain locations and that you meet certain eligibility requirements. Your lender would help you figure out if you might qualify for this type of loan.

Help For Home Buyers

If you don’t qualify for a VA or USDA loan, there are many other options.

If you are a schoolteacher, a firefighter, a nurse, or in various other groups, you may qualify for special grants available to first time home buyers. Those grants can help with your down payment of other expenses that come with buying a home. It’s important to talk with a lender about what options may be available.

Taking the first step toward home ownership can change the trajectory of your family.

“When you own a home, you are building that wealth for yourself, but also for your family members,” said Becky Seda, lead agent at Seda Real Estate Group.

“If you are the first person in your family to own a home that will change the future for your children and your grandchildren just based on being able to invest in yourself instead of helping someone else build their investment portfolio.”

The Most Common Loans

In Oklahoma, the most common loans for first time home buyers require a down payment of 3.5-percent.

So, the basic answer to the question of how much do I need for a down payment, in Oklahoma, is a minimum of 3.5-percent.

It’s important to note that putting more than 3.5-percent down can help you in a number of ways. If you can put 20-percent or more into your down payment then you will avoid having to pay PMI, or private mortgage insurance, on your home. PMI is a special type of insurance that a lender requires on conventional loans with a down payment below 20-percent. It is a protection for them — not you— should something happen, and you were to stop making your loan payments.

However, don’t let PMI be what keeps you from buying a home. At Seda Real Estate, very few of our buyers, especially first-time home buyers, have that much set aside to put into a down payment on a home.

“My advice to you is to find out what down payment you can afford and figure out what loan type will be most beneficial to you and get your foot in the door to home ownership,” said Seda.

For many buyers, the way to build up to a higher down payment is to simply purchase that first home, making a lower down payment. As they live in the home the equity they have grows. Then, when they are ready, they can sell that home and use that equity to make a larger down payment on their next home.

“Planning for your future and building that personal wealth that will go towards future down payments starts with buying that first house,” said Seda.

If you have questions about the home buying process our team would love to talk to you. Give us a call at 405-400-9973 or email us at contact@sedarealestategroup.com.

If you want to start the process of finding out what loan type you qualify for we can connect you with a local loan officer who will walk you through that process.