Special offer

Low interest rates today better incentive than $8000 tax credit of yesterday.

Real Estate Agent with Don Cies Real Estate 156645

I just wanted to let everyone know that Interest rates today are as low as 4.5% on a 30 year fixed loan. There are a lot of buyers out there bummed out that they didn't or couldn't take advantage of the $8000 first time home buyers tax credit. I got to thinking and did some calculations that confirmed my thoughts.

The current low interest rates will actually save you much more than the $8000 hundreds of thousands of americans received this year. Look at it like this.

Most buyers who took advantage of the tax credit received between a 5.3 and 5.5% rate of interest. If you pay interest on a loan amount of $150,000 over 30 years the home buyer today getting the low rate of 4.5% will save $37,000 in interest over the buyer who received the $8000 tax credit with an interest rate of 5.5%. And yes, I did subtract that $8000. We all have that friend who loves to brag about how they got $8000 in free money to buy a house. Next time they bring it up, ask them what their interest rate was. odds are it was not 4.5%.

Smart buyers know that these interest rates are a great incentive to buyers. And, best of all you don't have to be a first time buyer to take advantage.

If you are in the market for a home, or even just thinking about it let me know. I would be honored to walk you through this process.

Brian Eddins

Realtor, e-Pro





Tony & Darcy Cannon
Aubrey and Associates Realty - Layton, UT
The C Team

Brian, that is a great marketing tool!  Great post!

Aug 02, 2010 10:41 AM
Lori Cain
Own Tulsa - Tulsa, OK
Midtown Tulsa Real Estate Top Producer


I swear, I was THINKING this today while driving home from the grocery. I would like to re-blog, please and thank you!

Nice to meet a Norman Realtor. Will add you as an Associate for future referrals!

Aug 02, 2010 01:57 PM
Brian Eddins
Don Cies Real Estate - Norman, OK
e-Pro, GRI

Thanks guys. and Hello Lori. I will add you as well. happy selling!

Aug 03, 2010 05:09 AM