Interest Rates

Interest rates are surely going up sometime this year! Home prices are rising too! Buying a home NOW can possibly save you hundreds of thousands over the time of the loan.

Price of home
$150,000 $150,000
Interest Rate
3.5% 5%
Number of years
30 30
Principle & Interest 
$673.57 $805.23
What if the price of the home went up just 5%
$157,500  
$157,500  
Interest Rate
3.5% 5.0%
Principle & Interest
$707.25 $845.49

I could go on with the scenario and raise the price of the house along with higher interest rates! Don't you think it it is time to buy and avoid the rush when the interest rates go up.

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Craig Jackson

Craig Jackson

PSA, SFR, BA
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