You're probably used to thinking that patience can be a virtue when you're shopping for a bargain on a large purchase. But when that purchase is real estate, the opposite is true. Today's conditions - attractive home prices and interest rates at historic lows - have combined to make the current housing market one of the most affordable in decades. It simply makes no sense to hold out for a better opportunity that isn't likely to come.
Signs are already pointing to higher interest rates and, with home prices stabilizing or increasing in most markets, waiting to buy a home could easily cost you several thousand dollars each year. If buying a home is in your future, you won’t want to miss out on this once-in-a-lifetime opportunity.
Example:
- $275,000 Mortgage @ current interest rate = $1476.26/month*
- $275,000 Mortgage @ 1 point higher rate = $1648.76/month*
- SAVINGS OF $172.50 & more than $62,000 over 30 years
To learn more about today's affordability, call or stop by our Columbia Weichert office; 410-381-3331
*Interest rates quoted are as of July 28, 2010 and subject to change without notice. Featured monthly payments are based on a $275,000 30-Year mortgage calculated with closing costs of $10,000 with an increase from 5.00% (5.317% APR) to 6.00% (6.337% APR). Mortgage rates and programs are subject to qualified buyers. Certain terms and restrictions may apply. Not available on all mortgage loan products or property types. Figures herein are approximate and do not include property taxes, hazard insurance, or homeowners association dues for a condominium purchase. Not responsible for typographical errors. Closing costs vary by loan by loan basis.
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