If you were to wait to buy a home instead of taking
advantage of the current lower interest rates it could cost you over $100,000
over the course of your 30 year loan!!
Yikes!! That’s a lot of money that could go towards a new car, a
vacation home or into a retirement fund!
Let’s take a look at the numbers, if you find a home for
$250,000 today at the interest rate of 4.12%, your payments would roughly be
around $1200 per month.
However if you wait until next year to buy that same home,
with the home price rising to $270,000 and interest rates up at 5.3%, it would cost you
roughly $1500 per month. Over the life
of the 30year loan that’s over $100,000!!
A savings of $3600 each year could be your vacation
money, or improvements to your new home.
I’m sure you can think of more productive ways of spending that
money!
So what’s stopping you?
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