Steve Schutt: The Mortgage Hack For Active Duty And Vets to Save $1,000s on their Mortgage in Okaloosa

Mortgage specialist Steve Schutt shared some essential advice for homebuyers navigating the current housing market in Niceville or all of the Emerald Coast.

Amid rising interest rates and affordability challenges, Schutt, a loan officer at Movement Mortgage, explained a unique approach to home purchasing that could save buyers significantly on monthly mortgage payments—without the need to cut home prices.

“[When sellers] decide they’re gonna drop [the home price by] $25 grand,” said Schutt, “if [they] give it to the buyer and let the buyer use it for whatever they want, that buyer could actually save about $900 a month in that first year by using a special temporary buy-down program.”

Schutt illustrated the savings using a $500,000 home as an example. Rather than the seller reducing the home price to $475,000, he suggested using the same amount for a “temporary buy-down” program to provide immediate relief for buyers struggling with high interest rates. He explained that such a buy-down could reduce the buyer’s monthly payments by $900 in the first year, $600 in the second year, and $300 in the third year before reaching the standard payment level in the fourth year. This option particularly benefits military families who may only be stationed locally for a few years.

“This just gives them an opportunity to buy a home and have a lower payment during that time period,” Schutt explained, noting that the reduced upfront costs also allow more financial flexibility until the buyer can refinance at a more favorable rate.

More About Steve Schutt

Niceville’s Steve Schutt is a loan officer extraordinaire who’s helped people buy homes in the Emerald Coast area for more than 20 years! He and his team help buyers through the loan process from beginning to end with empathy, a deep knowledge of the mortgage industry and the local area.

The team stays involved in the community as well. Steve has coached numerous local sports teams, including the Niceville Eagles Boys Soccer squad. He actively supports Crisis Aid for Littles and Moms (CALM) of the chamber and will take the role of Chairman in 2025!

To get in touch with Steve and read his reviews from homebuyers like you,  click here