Buying Power

You have most likely heard how tough the real estate market has been for the past few years, but what you should be hearing is what an excellent time this is to BUY A HOME.

Rarely in real estate are interest rates and home prices both low – naturally, this creates a unique opportunity allowing people to BUY A LARGER HOME with little or no increase in your monthly payment.

For Example: If you currently have a $150,000 home with a $120,000 at 6.5% interest rate on a 30 year loan – your Principal and Interest payment would be: $ 759

Now let’s assume you purchase a $250,000 home and have a mortgage of $200,000 – at 3.75% interest rate on a 30 year loan – your Principal and interest payment would be: $926