Special offer

15 year rate hits record low

By
Real Estate Agent with RE/MAX Professionals

What an amazing time to buy a house.  15 year rate is nationaly averaged at 4.32% according to a recent Realtor.com article.  Want to own a home outright in 15 years?  Don't think you can?  Consider this scenario:

Average Goodyear, AZ home: $142,000, 10% down, $127,800 loan amount: P&I $965.95,

Include insurance and taxes for a payment less than $1,200!  Done in 15 years.

Compare that to a 30 year mortage : P&I of $676.33 at 4.875%.  It is a significant difference but possibly a huge savings in the long run.

Is a 15 year rate the right choice for you? 

Posted by

Joe Bourland, PC

RE/MAX Professionals

10320 W. McDowell Road, Ste. B2005

Avondale, AZ 85392

623-322-8588

www.JoeArizona.com

Comments (3)

David Zablatsky
Avant Realty Group - Needham, MA
Real Estate - Needham, MA

Joe,

Good to hear, thank you for posting and sharing the information.

 

-David

Nov 24, 2009 03:44 PM
Alix Pinzon
Open Mortgage, LLC NMLS # 2975 - Downey, CA
(562)743-6086

Wow, considering the amortization factor, that's actually a fair deal.

Nov 24, 2009 03:49 PM
Sasha Miletic - Windsor Real Estate
RE/MAX Preferred Realty Ltd. - Windsor, ON

Hi Joe, Good post. Thanks for sharing.

Best - Sash

Nov 24, 2009 04:32 PM