3 Ways Homebuyers could get a Lower Monthly Payment in Today’s Market
By: Movement Team
November 4, 2026
When creating a homebuying budget, many homebuyers build it around the monthly payment that feels comfortable. Understandably, that is where people get held up in today’s market. The typical buyer’s monthly mortgage payment reached $2,786 at a 7.32% mortgage rate. That is up 10.7% from a year ago and the second-highest level in Redfin’s records.
Don’t let the initial sticker shock of that monthly payment deter you! Especially in this market, there are ways you could lower that cost.
That payment comes down to the price of the home and the interest rate. With home prices flat to falling and fewer buyers competing for each listing, there is room to improve the monthly payment. Here are three places to start:
Source: Redfin, October 29, 2026
Movement now offers VantageScore® as an additional credit scoring model on eligible loans, alongside Classic FICO. It can count on-time rent, utility, and phone payments when they are reported to the credit bureaus, score some borrowers with limited credit history, and take recent credit progress into account.
A VantageScore can come out higher or lower than a Classic FICO score, so the loan officer chooses the model that fits the borrower. A higher credit score could improve the pricing on select loans, which could improve the monthly cost.
We’re already seeing results for our borrowers. Just days after launching VantageScore:
Note : VantageScore® is a registered trademark of VantageScore Solutions, LLC.
Ask the seller to put money toward a rate buydown, which lowers the interest rate and reduces the monthly payment. There are two kinds. A permanent rate buydown uses points to lower the rate for the life of the loan. A temporary buydown lowers the rate for the first one to three years, then the rate returns to the full rate. Either one goes straight at the number buyers are struggling with. How much a buydown lowers the rate depends on the lender and the loan.
Seller contributions, including buydowns, are limited by loan type and down payment. The seller concessions guide covers the limits, and a Movement loan officer can confirm what is allowed before the offer is written.
More homebuyers are catching on to this strategy, but it’s still underused: 29% of buyers included a seller-paid rate buydown in their final offer, up from 22% in 2025. That leaves about seven in ten who did not. Your lender and agent can help you use seller concessions to your advantage on your next offer.
Source: Zillow Research, October 14, 2026
Fewer buyers are competing for each home, so sellers have fewer people to turn to if they say no.
How much room a buyer has depends on the market. The average home sold for 98.3% of its list price, and 23.2% of homes still sold above list. Median sale prices fell the most in:
A local agent can show what sellers are accepting in a specific area.
Source: Redfin, October 29, 2026
A lower price, a seller-paid buydown, and a second look at credit all work on the same number. Fill out the form below, and we can show what these homebuying strategies could look like in your situation.
Don’t let the initial sticker shock of that monthly payment deter you! Especially in this market, there are ways you could lower that cost.
That payment comes down to the price of the home and the interest rate. With home prices flat to falling and fewer buyers competing for each listing, there is room to improve the monthly payment. Here are three places to start:
Source: Redfin, October 29, 2026
Check if VantageScore Could Improve the Pricing
Movement now offers VantageScore® as an additional credit scoring model on eligible loans, alongside Classic FICO. It can count on-time rent, utility, and phone payments when they are reported to the credit bureaus, score some borrowers with limited credit history, and take recent credit progress into account.
A VantageScore can come out higher or lower than a Classic FICO score, so the loan officer chooses the model that fits the borrower. A higher credit score could improve the pricing on select loans, which could improve the monthly cost.
We’re already seeing results for our borrowers. Just days after launching VantageScore:
- One borrower saw a 54-point difference, from a 714 FICO score to a 768 VantageScore, resulting in better pricing and mortgage insurance options.
- Another saw an improvement of nearly 70 points, resulting in a full point improvement in pricing and approximately $5,000 in savings.
Note : VantageScore® is a registered trademark of VantageScore Solutions, LLC.
Ask the Seller to Pay for a Rate Buydown
Ask the seller to put money toward a rate buydown, which lowers the interest rate and reduces the monthly payment. There are two kinds. A permanent rate buydown uses points to lower the rate for the life of the loan. A temporary buydown lowers the rate for the first one to three years, then the rate returns to the full rate. Either one goes straight at the number buyers are struggling with. How much a buydown lowers the rate depends on the lender and the loan.
Seller contributions, including buydowns, are limited by loan type and down payment. The seller concessions guide covers the limits, and a Movement loan officer can confirm what is allowed before the offer is written.
More homebuyers are catching on to this strategy, but it’s still underused: 29% of buyers included a seller-paid rate buydown in their final offer, up from 22% in 2025. That leaves about seven in ten who did not. Your lender and agent can help you use seller concessions to your advantage on your next offer.
Source: Zillow Research, October 14, 2026
Submit an offer for a Lower Price
Fewer buyers are competing for each home, so sellers have fewer people to turn to if they say no.
- The median home sale price was $389,601, down 0.1% from a year ago. It is the first decline in more than three years.
- Pending sales fell to 276,352, down 15.9% from a year ago and the lowest level in Redfin’s records, which go back to 2021. They declined in all 50 of the most populous metro areas for the third week in a row.
- 21.5% of home listings had a price drop, up from 20.9% a year ago.
- There are hundreds of thousands more home sellers than buyers nationwide.
How much room a buyer has depends on the market. The average home sold for 98.3% of its list price, and 23.2% of homes still sold above list. Median sale prices fell the most in:
- Seattle (down 5.1%)
- San Jose, CA (down 4.9%)
- Austin, TX (down 4.6%)
- Kansas City, MO (down 4.3%)
- Nashville, TN (down 3.3%)
A local agent can show what sellers are accepting in a specific area.
Source: Redfin, October 29, 2026
Find Out What the Market Could Do for the Payment
A lower price, a seller-paid buydown, and a second look at credit all work on the same number. Fill out the form below, and we can show what these homebuying strategies could look like in your situation.
