Seller Offering $10,000? Don’t Automatically Lower the Price

If a home seller is willing to give you $10,000, should you ask them to lower the purchase price, or use that $10,000 toward seller concessions? Those two options can have VERY different effects on your finances. In this video, I walk through a $375,000 home purchase and show what a $10,000 price reduction actually does to the loan amount, down payment and estimated principal-and-interest payment. Then we'll compare that with using a $10,000 seller concession toward eligible closing costs or potentially an interest-rate buydown. We’ll cover: • What a $10,000 price reduction actually saves • How seller concessions can affect cash needed at closing • Why a rate buydown has to be priced for your specific loan • Seller concession limits and why they vary • Why your financial goal should determine how you negotiate • What this means for buyers in today's Northeast Florida housing market The right answer isn't automatically “lower the price” or “take the concession.” It depends on what you're trying to accomplish: preserving cash, lowering your monthly payment, or simply borrowing less. If you're buying in Jacksonville, St. Johns County, St. Augustine, Orange Park, Fleming Island, Clay County, Nassau County, Ponte Vedra or the surrounding Northeast Florida area and you'd like to compare the financing options before making an offer, I'm happy to have that conversation with you. You don't have to apply for a mortgage just to talk through the numbers. *Important:* The 6.76% interest rate used in this video is an illustrative example based on Freddie Mac's national weekly average for a 30-year fixed mortgage published September 10, 2026. It is not a rate quote or an offer to lend. Actual interest rates, APRs, payments, closing costs and eligibility vary based on the borrower, property, loan program and market conditions. Principal-and-interest examples do not include property taxes, homeowners insurance, mortgage insurance, HOA/CDD fees or other housing expenses. CHAPTERS 00:00 Seller Offering $10,000? Start Here 01:12 What a $10K Price Reduction Actually Does 02:30 What a $10K Seller Concession Can Do 03:44 What Are You Actually Trying to Accomplish? 05:00 What About Buying Down the Rate? 06:04 Seller Concession Rules You Need to Know 06:56 Why This Matters in Northeast Florida 07:35 So Which Option Would I Choose? 08:19 The Question You Should Really Ask Michelle Carn | First Coast Mortgage Funding NMLS 917862 | 1953441 mcarn@firstcoastmtg.com 904.655.0040 www.michellecarn.com