Hi Friends,
Great news the mortgages rates have come down 1% which means you can buy 10% more home today. First time home buyers also receive a $7,500 tax credit. Tell your friends about this exciting news and call me before they go back up. It is a buyers market and there are a lot of great deals out there.
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Cost of HomeĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā BUY NOWĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā WAIT, and hope for a 10% drop in price
Loan AmountĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā $320,000Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā $288,000
Interest RateĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 6.375%Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 7.125%
Term (Months)Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 360Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā 360
Monthly PaymentĀ Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā $1996Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā Ā $1,940
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Renting at $1,000 per month, for 12 months, while waiting for the prices to maybe drop, is a $12,000 loss in one year. Unlike a mortgage where part of the payment is returned to you in a tax savings. Raleigh is slated to bounce back fast. It would be better to buy a day too soon than a day too late. Prices are going to go up with news like this.
Donāt wait buy. Buy now before rates and prices go up!
Have a great weekend.
Linda