About Josh
Josh Penland is a Branch Manager and Senior Loan Officer with Fairway Home Mortgage and leader of The Penland Team. For over 23 years, he has helped thousands of homebuyers, homeowners, investors, and real estate professionals with honest advice and personalized mortgage solutions. Josh specializes in first-time buyers, jumbo loans, self-employed borrowers, investment properties, and short-term rentals, with over $1 billion in career mortgage production and 500+ five-star reviews.
Josh's Articles
You Earned It: What Texas Veterans Need to Know About VA Loans
by Josh Penland
Buy and Sell a Home Without a Contingency in Austin, TX in 2026
by Josh Penland
2026 Central Texas Guide: Mortgage Rate Buydowns Explained
by Josh Penland
Showing 5 of 5 articles
Questions & Answers
Get answers from Josh
What's your framework for deciding whether seller concessions should go toward a buydown, closing costs, or reducing the purchase price?
Great question. Every client is different. I go over what a $10K drop in price would do to the payment ($65-70 a month with current rates), vs. using it for a buydown or just standard closing costs. Sometime cash to close is important so we use the credit for closing costs. Anyone that feels like payment is the number one concern, we will always end up doing closing costs. Once under contract, we can then determine if we look at permanent buydown or temporary buydowns. If I have a buyer has the cash/funds and cash to close or payment is not as important, they get the best price they can with no concessions.
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