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January 7th, 2012 1:27 PM

Cost of Waiting to Buy

Sales Price
Down Payment
select
Interest Rate
Term (Years)
select

Wait for home to decrease
While waiting the rate increases

Cost of Waiting to Buy

This shows a buyer what can happen to the payment if while they are waiting for the price of the home to come down, the interest rate were to go up.

Due to the higher interest rate, the home may have a higher monthly payment even though the price of the home was less.

Housing affordability is based on price and interest rates.

This is not an offer of credit but is a general illustration of typical mortgage terms and concepts. Joana Hoover-Lampert and RE/MAX Town and Country are not mortgage lenders. You should contact a specific lender to learn more about its mortgage products and your eligibility for such products.
Posted by Joana Hoover-Lampert on January 7th, 2012 1:27 PMPost a Comment (0)
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