clients on the fence

CLIENTS ON THE FENCE From Sean D. Cohen Prosperity Mortgage Consultant It’s very important for homeowners and prospective home buyers to understand the importance of low interest rates RIGHT NOW. Due to the recent trends in the stock market and the bond market, rates have held tight below 6.5% this winter, without paying points. The rates even dipped into the 5's here and there. If rates were to climb just 1%, which can happen very easily if stock market investing improves, the difference to someone’s monthly payment is major. When you view not only the difference to the monthly payment, but also the money that adds up over a year, and then ten years, it’s shocking. Any clients considering purchasing a new home or refinancing out of an ARM loan, but have been sitting on the fence for any reason, should consider getting off that fence and moving forward on all cylinders now. The difference in just 1% hike to the interest rates, which can happen in less than a month’s time, would be brutal. Share this chart with your clients, and ask them to consult your recommended mortgage specialist as soon as possible for a loan pre-approval, so that both of you can move forward in the search for a home that fits their needs, while it’s still affordable. loan curr rate payment if you wait payment $diff/mth $diff/1year $diff/10yrs 200k 6.5% 1264 7.5% 1398 134 1608 $16,080 300k 6.5% 1896 7.5% 2097 201 2412 $24,120 400k 6.5% 2528 7.5% 2796 268 3216 $32,160 500k 6.5% 3160 7.5% 3496 336 4032 $40,320 For the best pricing, rates, and honest, reliable service, contact: Sean D. Cohen Prosperity Mortgage Consultant sean.d.cohen@prosperitymortgage.com Office 757-428-4600 Cell 757-404-3387