See the daylight. Get the savings.
If you're in the market to buy a home in our area, the savings you can get right now are like daylight - they're good for you, but they won’t last forever.
Lower mortgage rates – for now.
Interest rates are still amazingly low and smart buyers know that this trend can significantly increase their purchasing power. Get the savings on your home purchase now, before rates go up again. See the chart below to find out how much a 1% rate increase will impact the amount of home you can buy.*
Purchasing Power Today 1.0% Increase in Rate 10% Less Home
Purchase Price: $500,000 $500,000 $450,000
Loan Amount: $400,000 $400,000 $360,000
Interest Rate: 5.00% 6.00% 6.00%
APR: 5.133% 6.141% 6.147%
P&I Payment: $2,147 per month $2,398 per month $2,158 per month
Use Coldwell Banker Bain's Affordability and Mortgage calculators to see how rate changes can impact your payments on specific properties and price ranges.
* Assumes a down payment of 20% and a 30-year fixed rate. Monthly payment does not include taxes & insurance. Actual monthly payment obligations may be higher. Programs, rates, terms, and conditions are subject to change without notice. Source: Landover Mortgage.
Lower home prices
In many areas of Western Washington home prices have been flat or falling. One positive result of lower median prices in our area is that homes are now more affordable to the average homebuyer than they have been in some time. To learn more, read the Washington State Housing Affordability Report located here on CBBain.com.
I can help you get customized examples of how today’s mortgage rates and home selling prices will affect your purchasing power. Contact me today and let me help you Get the Savings!
