Buying a home costs more than a down payment. Experts suggest comparing lenders, exploring FHA, VA or USDA loans, aid programs and seller concessions.

NEW YORK – Buying a house, even with a 10% down payment, means covering more than the list price. Beyond the down payment, property taxes, insurance and closing costs can quickly push a home out of budget (30% or less of income), but there are strategies that can help.

Experts advise shopping multiple lenders for better mortgage rates or exploring Department of Veterans Affairs (VA), Department of Agriculture (USDA) or Federal Housing Administration (FHA) loan programs to reduce monthly costs.

Even a half-point difference on a $400,000 mortgage could save nearly $50,000 in interest over 30 years. Buyers can also research down payment assistance programs that provide grants, low-interest loans, or deferred "silent second" loans.

Negotiation can further ease the financial burden, as sellers might agree to cover closing costs, handle repairs or pay HOA fees if it accelerates the sale. Once the home is purchased, refinancing when rates drop or renting out part of the property are additional ways to manage payments.

For buyers determined to secure their dream home, using a mix of financial tools, assistance programs and negotiation tactics can make the purchase more attainable.

Realtor.com (08/27/25) Goldschein, Eric

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