lsu: Why Buyers Should Take Advantage of Historically Low Interest Rates... NOW!
- 09/27/10 09:36 AM
With interest rates hovering in the 4's*, buying power has never been better. If a buyer locks in a rate for 4.5% today on a sales price of $200,000 and putting 5% down, their principal and interest payment would be approximately $962.70 (not including taxes and insurance). If interest rates go up even just 1%, to finance the same amount, the montly payment would jump to $1,078.80. Now lets say, at 5.5%, that you wanted to keep the principal and interest payment at around $962.70. The sales price of the house you could buy would now be $178,500. WOW. That's the … (0 comments)
With interest rates hovering in the 4's*, buying power has never been better. If a buyer locks in a rate for 4.5% today on a sales price of $200,000 and putting 5% down, their principal and interest payment would be approximately $962.70 (not including taxes and insurance).
;)
;)
