Leaves are not the only thing falling this October. Interest rates continue to slide downward. The low mortgage rates equal a great time to buy a Charleston WV home.  According to a recent Freddie Mac Primary Mortgage Survey, a 30 year fixed rate mortgage is 3.94%, while a 15 year mortgage is 3.26%.

 

Family in front of home with sold signWhat does this mean for someone looking to buy a home in the Charleston WV area? You could save enough money to pay for a nice college for the children, or stash away a good amount for retirement. 

 

According to a recent market report from the Kanawha Valley Board of Realtors, the average price for a home in Charleston, WV is $144,200.

 

If you were to purchase this home 3 or 4 years ago when the mortgage rates were 3% higher, the monthly payment would be $1237.19 for principal and interest on a 15 year mortgage.

 

Today, this same Charleston, WV home would cost $1013.95 for the same 15 years. A monthly difference of $223.24. Over the life of the loan, the savings would total $40,183.20! If you opted for a 30 year mortgage, you would have paid $97,340.40 less at the end of the repayment term.

 

If you are position to buy and looking for a home in the Charleston, WV area, allow me to assist you in your home search. Call/Text 304-741-4705.

 

*Rates are based upon credit score and other contributing factors. Your rate may vary. Please speak with a professional mortgage advisor to learn more.   

Dale Samples is a REALTOR serving the Charleston, Teays Valley, Cross Lanes, West Virginia market. If you are looking to buy or sell a home, contact me today!

You can call/text (304) 741-4705.

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2 Comments on Low Mortgage Rates Equal A Great Time to Buy A Charleston, WV Home!

OCT
10
2011
527,132 Points 7 Featured Posts Outside Blog Called Shot Master

This is a great analog, Dale!  If only I were buying a home.....  I love mine though and am here for a while. (Thank goodness I love it!)
10:32pm • #1
159,298 Points 2 Featured Posts Outside Blog Called Shot Master

Thanks DeeDee. The same works for Re-Fi if you already own a home. I recently refinanced from 30 yr fixed down to 15 yr fixed and will save almost $70,000 in interest.
11:23pm • #2

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Dale Samples • REALTOR • Homes for Sale Charleston, West Virginia (304.741.4705 • www.dalesamples.com ) Rainmaker_large

Dale Samples • REALTOR • Homes for Sale Charleston, West Virginia

Charleston, WV

More about me…

304.741.4705 • www.dalesamples.com

Address: Home Pro Realty, LLC., 415 Virginia Street, W , Charleston, WV, 25302

Office Phone: (304) 741-4705

Cell Phone: (304) 741-4705

Email Me

Dale Samples is a REALTOR serving the Charleston, WV Market. Blogging about real estate listings and homes for sale, as well as various other topics in Charleston, Cross Lanes, Teays Valley, West Virginia.


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