Many buyers are contemplating what a rise in interest rates would mean. Here are two scenarios that illustrate savings at a lower rate:
Buying a $400,000 home with 5% down at an interest rate of 4.125% vs. 4.5%:
You save approximately:
$80/per month
$960/per year
$30,000 over the life or the loan
Buying a $650,000 home with 5% down at an interest rate of 4.125% vs. 4.5%:
You save approximately:
$135/per month
$1,620/per year
$50,000 over the life or the loan
One of the most important factors when buying a home (or refinancing your current home) is choosing a lender.
As Cari Jordan stated, “I am concerned about the transaction going as smoothly as possible; the chances of that happening increase when a buyer uses a local lender with a good track record, who has processors, underwriters, and appraisers who are also based locally and familiar with our area.”
Over the years, these local lenders have served Go Brent Team’s clients well. Feel free to contact them directly or reach out to us and we’ll be happy to introduce you.
Chad Loube
George Mason Mortgage, LLC
Ramez Fahmy
Caliber Home Loans
Bruce Meyers
First Home Mortgage
Craig Strent
Apex Home Loans
