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rent: Why Now? First time home buyers. - 12/06/08 02:48 PM
I think a better question is "If not now, when?"
Now Is the time.  Why now if you are a first-time buyer?
Intrest rates are at very low levels.  Last week saw rates dip to 5%!  What that means is that with a loan balance of $150,000.00, at 5% interest The PI payment would be $806 per month*  But at 6% the PI due would be $900 per month*.  Check the Mortgage Calculator for yourself.
*  Please note this would not include the taxes and insurance.   It would not be uncommon at that value to be +/- $150 a month
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David Timm - EcoBroker®, GRI, ABR®

Fort Collins, CO

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Keller Williams Realty

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