PMI -Private Mortgage Insurance, comes in a range of payment options: Monthly (paid as a monthly fee added to your mortgage payment), Upfront (paid as a one-time closing cost -removing monthly expenses), Split-Premium (Paid as a partial monthly payment with the remainder paid as upfront costs), and Lender Paid (The premium is paid with the yield-spread premium of the rate). Depending on your qualifying scenario and estimated time to hold financing will affect your cost-savings approach.

A 2-1 buydown is a type of financing that effectively lowers the interest rate on a mortgage for the first two years before it rises to the regular, permanent rate. The rate is typically two percentage points lower during the first year and one percentage point lower in the second year. A seller concession pays for the effective interest rate reduction.

A 1031 exchange can be used not only to defer capital gains tax but also to manage existing mortgages when transitioning from one investment property to another, facilitating the growth of your real estate portfolio.

Mortgage Credit Certificates (“MCCs”) is a dollar-for-dollar tax credit for qualified recipients to increase housing payment affordability. In some cases, MCCs can also help borrowers who might not otherwise qualify for a loan by increasng thier qualifying income. See IRS form 8396

Down Payment Assistance is the financial support provided to homebuyers, from Texas Housing Non-Profits, to help cover the initial payment required when purchasing a home. It can come in the form of grants or loans and is typically aimed at assisting individuals or families who may have difficulty affording the down payment on their own.

Seniors aged 62 or older, can convert a portion of their home's equity into cash (to payoff bills, bolster retirement assets or savings). The remaining portion of equity is utilized to pay the interest of the loan for as long as the senior resides in the home. This allows the senior to access the value of their home without selling it or making monthly mortgage payments, which can help to alleviate the financial burden of a reduced income in retirement.