Trevor Halpern is the CEO of Halpern Residential at eXp Realty and a top-ranked real estate agent in the Valley. A Phoenix native and licensed attorney, he’s closed more than $330 million in transactions since 2011.
If you’re planning to buy a home in 2025, you’re entering a market that’s shifting slowly in buyers’ favor. According to the Home Buying Institute, “A real estate market slowdown could give home buyers more negotiating leverage through the rest of 2025.” Translation: With the right strategy and team, you can stretch your buying power further.
Timing is only one part of the equation. Your lender should be arming you with solid, practical information before you make one of the biggest financial decisions of your life. Here are five things your lender should have told you before you close.
Understand your true monthly payment
Many buyers focus only on principal and interest. But the real number you’ll live with each month is bigger. Ask your lender for a full monthly estimate that includes property taxes, homeowners insurance, mortgage insurance (if needed), and any HOA dues. This “all-in” number affects your day-to-day budget and stress level more than the purchase price itself.
Don’t just haggle on price; negotiate smart concessions
In a buyer-friendly market, sellers are often willing to offer financial perks to get the deal done. Instead of chasing a small discount on the price, ask your lender and agent about options like seller-paid closing costs, interest rate buydowns, or seller-paid mortgage insurance. These can have a greater impact on your monthly costs than a price reduction.
Choose financing that fits your life now
The 30-year fixed mortgage is the default, but it’s not always the smartest. Depending on your situation, ask about:
- Temporary rate buydowns that start with a lower interest rate for the first one to three years. This is helpful if you expect rates to drop or your income to rise.
- Mortgage recasting, where you apply a lump-sum payment later to reduce your monthly payments permanently without refinancing.
- Bank statement or P&L loans for self-employed buyers, which offer more flexible income documentation.
Know your options for mortgage insurance
If you’re putting less than 20 percent down, you’ll likely face mortgage insurance. But it doesn’t have to be permanent. Some sellers may agree to pay a one-time premium so you can skip monthly mortgage insurance entirely. And if you do start with mortgage insurance, remember it’s not forever.
Track your home’s value and equity and schedule a call with your loan servicer after two years. If you’ve reached 20 percent equity, you may be able to cancel early.
Keep your team aligned and focused
Remember the big picture. Home appreciation may not be what it was five years ago, but buying a home is still about stability, control, and building a life. Work with a team that sees the full picture and helps you make smart, informed moves along the way. Learn more at halpernresidential.com.
