A $20k price drop on an $850k house only lowers your mortgage payment by about $121 per month

Instead of negotiating a price drop, negotiate for seller credits to buy down the mortgage rate, which can save more money per month. For example, a $20k price drop on an $850k house only lowers the mortgage payment by about $121 per month, but using that same $20k as a seller credit to buy down the rate can save around $328 per month.