Homebuying Hacks & Strategies

Purchasing a home is a significant, exciting milestone that can help you build generational wealth. Whether you’re a first-time homebuyer or looking to upgrade, achieving this dream is possible, but there are several hurdles to navigate in today’s housing market. Limited housing supply and ongoing affordability challenges are common obstacles that potential homeowners must overcome. In this blog, we’ll explore various challenges that homebuyers are facing in today’s market and provide housing hacks and financing strategies to help you overcome these common challenges.

1. Buy Before You Sell

One of the biggest dilemmas for homeowners looking to upgrade is buying a new home before selling their current one. Our “Buy Before You Sell” program addresses this by allowing you to make a non-contingent offer on a new home before selling your existing property.

How It Works:

  • You receive financial backing to purchase your new home without needing to sell your current one first.
  • This enables you to make a stronger, non-contingent offer, which is often more attractive to sellers.


  • Avoid the stress of timing two transactions perfectly.
  • Have the comfort of moving into your new home before dealing with the sale of your old one.

2. Down Payment Assistance

Saving for a down payment can be a daunting task, especially if you have limited savings. Or perhaps you want to keep some of your savings to furnish your home after closing. Fortunately, our Homeseed 100 Program is available to help with down payments and reducing your cash-to-close, even if you’re not a first-time homebuyer. We also offer down payment assistance through the Washington State Housing Finance Commission, where there are additional programs with income restrictions that could be potentially better suited for underserved and low-income communities.

Homeseed 100 Program Highlights:

  • No income restrictions.
  • Minimum credit score of 620.
  • Repayable and non-repayable assistance
  • Up to 5% assistance for the down payment and closing costs.
  • Manufactured homes allowed.
  • 2-1 interest rate buydowns available.

3. Stronger Offers with a Cash Committed Credit Approval

Homeseed’s goal is to reduce the stress of the mortgage process by helping our clients prepare early and make our clients’ offers stand out in a competitive market. To do so, we’ve developed our Cash Committed Credit Approval™ program to help achieve this. We’ll provide you with a fully underwritten credit approval for financing before you find your home so you can shop with confidence. Additionally, sellers will find your offer that much more attractive knowing that you’ll close on time or our Cash Committed Credit Approval™ program will issue a $10,000 credit to them. Please see full terms and conditions at bit.ly/homeseedccc.

How It Works:

  • Complete a loan application and request to enroll in our Cash Committed Credit Approval program prior to making an offer.
  • Respond to all of our requests on time as outlined in our terms and conditions.
  • We will guarantee the transaction closes on time or we will issue $10,000 to the seller.

4. Multi-Family Property Purchase

Purchasing a multi-family property offers numerous benefits, making it an attractive investment option. One of the key advantages is that potential rental income from the other units can be used when qualifying for the mortgage. For individuals looking to get into real estate investing, purchasing a multi-family property provides an opportunity to build wealth and financial stability as you live in one unit and rent out the others to offset living expenses.

Imagine Jane, an aspiring real estate investor, decides to purchase a duplex for $800,000. She secures a mortgage with a 20% down payment of $160,000, leaving her with a loan of $640,000 at a 6% interest rate. Sarah plans to live in one unit while renting out the other.

The rental market in her area is strong, and she finds a tenant who agrees to rent the second unit for $2,000 per month. The monthly mortgage payment for her loan, including principal and interest, is approximately $3,837. Adding property taxes and insurance, her total monthly housing cost comes to about $4,500.

With the rental income of $2,000 per month, Sarah’s out-of-pocket expense for housing is reduced to $2,500 per month. This makes homeownership more affordable for her. Additionally, Sarah benefits from potential property appreciation and tax advantages such as deductions for mortgage interest, property taxes, and depreciation on the rental unit. By renting out the second unit, Sarah not only reduces her living costs but also builds equity in the property, paving the way for future investment opportunities and financial growth.

5. Funds for Investing: HELOCs

A Home Equity Line of Credit (HELOC) offers significant benefits, particularly if you are looking for a quick way to tap into your home’s equity. It provides flexible access to funds by leveraging the equity built up in your current home, allowing for the financing of a new home purchase or another investment. This flexibility can ease the stress of timing for your particular goals, offering funds that cover down payments, renovations, and much more.

HELOC Highlights:

  • A flexible credit line secured by your home’s equity and allows for periodic access to funds when needed.
  • Adjustable interest rates, providing flexibility but requiring careful financial planning.

6. Utilizing a Rent-Back Agreement When Selling

A Rent-Back agreement allows the seller to remain in the home for a specified period, paying rent to the new homeowner. It provides the seller with additional time to secure a new residence and complete their move, potentially saving time and money as they would not need to move into new temporary housing before purchasing a new home.

Imagine John just closed the sale of their home in Seattle but needs an additional 30 days to finalize the purchase of a new property. He enters into a rent-back agreement with the buyer, agreeing to pay a monthly rent equivalent to the new homeowner’s mortgage payment, property taxes, and insurance costs. The terms are clearly outlined in a written agreement, including a refundable deposit to cover any potential damages. The buyer, now the official homeowner and temporary landlord, benefits from an additional rental income that can help offset moving and closing costs. Meanwhile, the seller enjoys the stability of remaining in their home while they transition to their new one, avoiding the inconvenience and expense of temporary housing.

Get In Touch With Your Homeseed Loan Advisor

Your Homeseed Loan Advisor is here to offer innovative solutions to common homebuying obstacles, making your path to homeownership more accessible and manageable. By leveraging strategies such as Buy Before You Sell, down payment assistance, cash committed credit approvals, HELOCs, and other creative financing ideas, you can navigate the challenges of today’s real estate market with confidence. Explore these options to take control of your homebuying journey and turn your homeownership dreams into reality.

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