Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are below 4% with 20% down and a 740 FICO score.
Don't get priced out of your 'Dream Home'... pay attention to interest rates, they have a direct impact on your purchasing power. See the diagram below. When interest rates are higher, you can have about the same house payment as a home that is $40,000 more with a point less in interest rates.
Remember as interest rates go lower, home prices usually will increase and as rates rise home values will normally diminish.
Don't hesitate to contact me directly if you have any questions, 661-702-4767.
No comments:
Post a Comment