06/29/2021
💭Is it a good time to buy?
🏠When buying a house you have to look at the big picture and your future. With interest rates being so low you are able to save more money over time.
⏳Take for example:
If your interest rate is 3% on a $200,000 home your monthly payments would be around $850, not including tax and insurance
But if the interest rate increases by 2% to a 5% rate your payments would probably be somewhere around $1,050, not including tax and insurance.
So over a 30-year mortgage you'll end up paying around $72,000 more in interest.
Now you may purchase a home at a higher price but in the long run for your budget and family it has the benefit of paying less in interest over the years saving you thousands.
☎️ If you need help finding your dream home call me. I love helping people make wise investments for you and your family.
-Sam Schneider