06/05/2026
Updated interest rates. Higher than last time but lower than a year ago. Without any discount points or buy downs or grants, a mortgage payment on a $400,000 loan with a 30-year amortization:
Rate Principal & Interest
6.48% (today) ~$2,523/mo
I recommend looking at the monthly debt obligation to determine when the right time to buy is for you.
How do you know what that number is? Look at your monthly income. I don't recommend your housing payment (mortgage or rent) to be more than 1/3 of your income.
If you find the right home, can comfortably afford the payment, and plan to stay for 5+ years, today's market conditions are reasonable to purchase.
Once that is done, find the loan program and the best lender that works best for you. I can help you find someone if you're stuck.
Give me a call or DM me and lets talk!!!
Scott Bird - Stratum Real Estate Group
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