It wasn’t just because of the stay-at-home slogans.

The two biggest contributing factors?

• Interest rates
• Home prices

The average American just can’t afford those types of monthly payments—or at least that’s how it feels when you get pre-approved and see the numbers.

I deeply feel that sickening pit in my stomach seeing prices rise everywhere. The gap between home prices and monthly income has grown massively over the past few years, and it’s freaking tough.

And who wants to upgrade or downsize their home just to give up that freakishly low 2.8% interest rate after they sell?

Waiting for the “Perfect Time”

As tradition, the media got people excited over and over again that there would be some massive housing crash or that rates would soon drop.

The people who bought into that—and those who still are—can now see how much potential equity they may have missed.

Rates have shown their colors, and home prices in Utah are still expected to continue their historical average growth of around 6% per year.

That’s Why I Started Looking for Better Solutions

For the past couple of years, I’ve been meeting with hundreds of lenders and doing a ton of research on how to make buying a home affordable again.

As a result, I’ve put together 7 powerful strategies that can significantly lower your monthly mortgage payment and help make homeownership possible for the average person again.

I Practice What I Teach

I’ve implemented these strategies myself.

Right now, I’m paying about $800 per month between two different homes while living upstairs in a 3-bedroom, 2-bath home with my wife and kiddos.

Instead of paying a landlord every month, I’m paying myself by building equity.

Is $800 for a 3-bedroom, 2-bath upstairs unit more than you’re paying in rent?

If so, you can probably just scroll on.

If not, this free, anti-salesy workshop might be worth your time.

Rates and prices will always rise and fall. The key is learning how to outsmart them with strategies and tools that can significantly reduce your monthly mortgage payment and make homeownership affordable again.

Not convinced?

No worries.

Our goal is to educate and give—not to sell you something before you’re ready.

Today, we’re continuing with the final five tips. These strategies are often overlooked, but they can make a significant difference in both your monthly payment and your long-term financial success.

Let’s dive into Tip #6.

6. Explore Special Loan Programs

There are a surprising number of loan programs that many buyers never hear about.

Depending on your situation, you may qualify for programs that offer:

• Lower interest rates
• Down payment assistance
• Forgivable loans
• Reduced closing costs

Some assistance programs can provide tens of thousands of dollars toward your down payment if you qualify.

Since these programs are updated regularly, it’s always worth checking what’s currently available before assuming you have to cover every expense on your own.

7. Take Advantage of VA Loans

If you’ve served in the military, please don’t let your opportunity to own a home pass you by.

I recently helped a Marine purchase a brand-new home with:

• A 4.9% interest rate
• $5,000 toward the down payment

VA loans can provide incredible benefits, including:

• 0% down payment options
• No Private Mortgage Insurance (PMI)
• Competitive interest rates
• Outstanding long-term financing advantages

Most importantly, thank you for your service and for the sacrifices you’ve made to protect our country. If you’re eligible for a VA loan, make sure you understand the benefits you’ve earned.

8. Put More Money Down—If It Makes Sense

This strategy is straightforward: the more you put down, the less you need to borrow.

Reaching a 20% down payment can often eliminate Private Mortgage Insurance (PMI), potentially saving you around $125 each month.

That’s money that can stay in your pocket instead.

However, don’t empty your savings just to reach that number. It’s important to leave yourself with enough for:

• Closing costs
• Furniture
• Repairs or maintenance
• Emergency expenses

And remember—you do not need a 20% down payment to buy a home.

Many primary residences can be purchased with as little as 3% down, and some loan programs require even less. Even investment properties may require less down than many buyers expect.

9. Consider Recasting Your Mortgage

Suppose you’ve already purchased your home and later receive a large sum of money through:

• A work bonus
• An inheritance
• The sale of another property

Instead of refinancing, you may be able to recast your mortgage.

A mortgage recast allows you to:

• Apply a large payment directly toward your principal balance
• Keep your existing interest rate
• Lower your monthly mortgage payment

A recast is often much less expensive than refinancing and can be an excellent option for homeowners planning to stay in their home for years.

If your goal is to pay off your mortgage faster, you may also want to explore bi-weekly mortgage payments.

10. Extend Your Loan Term

I’ll admit this is the strategy I recommend the least—but that doesn’t mean it’s the wrong choice.

Extending your loan term, such as choosing a 40-year mortgage, can significantly reduce your monthly payment.

The trade-off is simple:

You’ll likely pay more interest over the life of the loan.

For some buyers, having greater monthly cash flow outweighs the additional long-term cost. For others, paying off the loan sooner is the better financial move.

The right choice depends entirely on your financial goals and personal circumstances.

Final Thoughts

There isn’t a single mortgage strategy that’s perfect for everyone.

For some buyers, seller financing may provide the biggest advantage. Others may benefit most from a VA loan, builder incentives, down payment assistance, or a mortgage recast.

The key is knowing your options before deciding that homeownership is out of reach.

Every buyer’s financial situation is different, and the best mortgage strategy is the one that aligns with your budget, lifestyle, and long-term goals.

If you’re thinking about buying a home or simply want to explore your options, I’d be happy to walk you through these strategies and help create a plan tailored to your desired location, monthly payment goals, and future financial plans.

Let’s connect and start building a path toward homeownership that’s both realistic and achievable.

Your dream home may be closer than you think.

I hope you can take a moment at some point to consider the following…

Tomorrow we celebrate INDEPENDENCE DAY, a day that marks the birth of the United States of America (as well as my sweet wife Mary, and, hopefully, our sweet baby boy!!).

Today, and each time I see the flag, I am reminded of the values and ideals that shaped America: freedom, opportunity, and the pursuit of happiness.

Let’s face it, folks. America may not be in the best shape. In today’s world, it sometimes feels like we need an Independence Day from the endless hate, political tension, and segmentation.

Regardless of your stance on the latest presidential debates (or the urge to shoot a grenade launcher at your screen), one thing remains true—there is a great opportunity to be found in opposition. What does that look like for you personally and in your family and neighborhood?

The ideals enshrined in the Declaration of Independence resonate deeply with me as a real estate consultant dedicated to guiding others toward greater opportunity and security.

In fact, the original manuscript read that our God-given rights include “Life, Liberty, and the Pursuit of Property.” Real property and land ownership were synonymous with happiness! I hope you take some time this week and month to consider WHY that would be.

The Founding Vision

On July 4, 1776, our Founding Fathers declared their independence from religious and financial tyranny, envisioning a nation where every individual could strive for a better life. They believed in the power of freedom, the importance of self-determination, a dependence on God, and the role of family and community in building a strong and prosperous society.

Homeownership: The Modern Path to Freedom

Today, owning real property stands as a cornerstone of personal freedom and opportunity.

When you own a home, you are not just acquiring a place to live; you are investing in your future, creating stability for your family, and laying the foundation for long-term and generational wealth.

Homeownership empowers you to make decisions that reflect your values and dreams, much like the founders who boldly charted their own course.

Here’s why homeownership is the modern embodiment of American ideals:

Economic Independence

Owning a home builds equity over time, providing a financial cushion and opportunities for investment. This financial stability is a critical step toward achieving economic freedom.

There is also opportunity unlike any other to cash flow while building equity—and yes, cash-flowing properties still exist with a creative agent!

Community and Stability

Homeownership fosters a sense of belonging and contributes to stable, vibrant communities. When you own your home, you are more likely to invest in your neighborhood, build lasting relationships, and create a safe environment for your family.

Legacy and Security

A home is a tangible asset that you can pass down to future generations, creating a legacy of security and opportunity for your children and grandchildren while also avoiding massive tax penalties.

Personal Growth

The journey to homeownership teaches valuable lessons in financial literacy, responsibility, and long-term planning. It’s a path that promotes personal growth and self-improvement.

Embracing Patriotic Ideals

As we celebrate this Independence Day, let’s honor the vision of our Founding Fathers by embracing the opportunities before us.

Whether you are a first-time homebuyer, wanting to upgrade or downsize, or looking to expand your real estate portfolio, I am here to guide you every step of the way.

Together, we can turn the dream of homeownership into a reality, ensuring that you and your family enjoy the freedom and opportunities that come with it.

A Personal Invitation

I invite you to reflect on the importance of freedom and opportunity in your own life.

How can owning real property help you achieve your goals and secure a brighter future for your family?

Let’s have a conversation about how we can make this vision a reality for you.

Thank you for allowing me to be a part of your journey. Wishing you a safe and joyous 4th of July filled with family, friends, and the celebration of the incredible freedoms we still hold dear.

With patriotic spirit and heartfelt gratitude,

Spencer Hughes
Real Estate Consultant and Wealth Building Coach
385.224.0567

I get it.

Buying a home right now can feel overwhelming—especially if you already feel like your income is stretched thin. I can empathize. That’s why, as I promised in my last email, I put together a list of my favorite strategies for dramatically lowering your monthly mortgage payment when buying your first, second, or even third home.

Not every strategy will be right for every person. But before you assume homeownership is out of reach, I’d invite you to consider some of the options below—and maybe a few others we can brainstorm together.

1. Utilize Seller Financing & Wrap-Around Mortgages

I put this one first on purpose.

In my opinion, this is one of the best and most overlooked ways to secure a significantly lower interest rate—and therefore a much lower monthly payment and total interest cost.

I wish more people talked about it.

As you’ll see from the graphs attached to this email, despite recent rate increases, the vast majority of homeowners in the U.S. are still sitting on mortgage rates around 3.75% or less.

Many sellers are willing to offer financing with terms that are much more favorable than what banks are offering right now. Depending on the seller’s goals, it can be a win-win for everyone involved.

My take: If I could get more buyers to understand one strategy right now, it would probably be this one.

And no—it doesn’t have to be as scary or risky as some people make it sound. Use a good agent and a good title company to help protect your interests and structure things properly.

2. House Hack or Rent Out a Portion of the Property

If you’re willing to be a little scrappy for a few years before swimming in all your financial bliss, this can be a YYYUUUGE wealth-building strategy.

Because I don’t make truck loads of dollars like some of you, I’ve had to get creative.

My Most Extreme House Hack: Back in 2017, when I bought my first home, I built and lived in an 8×12 Tuff Shed for a couple of years so I could maximize rental income from the house.

My total living expenses—including everything—were about $2,600 per YEAR.

I’m not saying you need to go live in a shed.

I’m just saying there are often more options than people realize.

What We’re Doing Today: Right now, my family is living upstairs in a 3-bedroom, 2-bath home while renting out the downstairs unit that I recently remodeled.

Between owning two homes and living in one of them, I’m currently paying about $1,100 per month in mortgage payments.

That’s significantly less than what many people pay in rent.

Ways to House Hack:

Look for:

* Walk-out basements

* Space to add a kitchenette

* Detached garages that can be converted into rental units

* Properties with ADU potential

In many cases, these improvements can:

* Add substantial equity to your property

* Create additional cash flow

* Cut your effective housing cost dramatically

Extra Wealth-Building Hack:

After 12 months, consider moving out and either:

* Keeping the property as a rental, or

* Selling it after adding value

Then repeat the process.

If you’re interested in this strategy, let’s make sure we find the right property, zoning, and setup from the beginning. Keeping everything legal and properly permitted usually saves a lot of headaches later.

3. Consider New Construction

Builders are competing hard for buyers right now. 

To move inventory, many are offering major incentives through preferred lenders and financing programs.

Some builders are discounting home prices.

Others are subsidizing interest rates.

In many cases, builders negotiate wholesale lending arrangements because they’re sending so much business to a particular lender.

Companies like DR Horton and Edge homes among others are offering significant incentives right now, and some builders are reducing prices as well. -I’ve got a network inside along with details they don’t want to advertise. It’s like going to a new car lot- give me a call before going to look and I’ll give you the nitty gritty on how to get the best deal without being flanked.

It’s absolutely worth exploring before assuming resale homes are your best option.

4. Use a 2-1 or 1-0 Buydown

This is another strategy that can dramatically reduce your monthly payment during the first few years of ownership.

2-1 Buydown – Your interest rate is reduced:

* 2% lower during Year 1

* 1% lower during Year 2

* Returns to the original rate in Year 3

1-0 Buydown – Your interest rate is:

* 1% lower during Year 1

* Returns to the original rate afterward

On a $500,000 home, this can save roughly $300-$800 per month depending on loan structure and down payment.

That extra breathing room can make a huge difference while you’re getting established, increasing income, or waiting for rates to improve.

Important: These buy-downs generally make the most sense when they’re paid for by the seller—not by you.

And if rates fall and you refinance before the buydown period ends, the remaining funds may be available to help with that refinance.

5. Buy Down Your Own Interest Rate

If you’re less optimistic about rates dropping—or you’d simply rather lock in a lower payment for the long term—you can permanently buy down your mortgage rate.

Lenders call these “points.”

You pay money upfront in exchange for a lower interest rate over the life of the loan.

A couple quick notes:

* Don’t be fooled by billboard mortgage rates. They’re often assuming you’ve purchased points.

* Always calculate your break-even point.

If you only plan to own the property for a few years, buying points may not make financial sense.

. . .

Onto the next 5, stay tuned!