With so many buyers sitting on the fence waiting for that perfect moment I thought it prudent to showcase what the cost of waiting really looks like.
Let's say for instance that you are in a $200,000 price range looking at homes that cost TODAY $200,000.
With prices on the way up we can assume a 10 - 12 percent appreciation over the next year in some areas, and even more in other.
1 year from now that home THE SAME ONE will cost you $220,000, or $20,000 more dollars!
Now let's talk interest rate. Let's say TODAY that interest rate is 4.25% on a conventional loan with 20% down, where your loan is $160,000 and your APR is 4.363% the payment would be $960.43
1 year from now that same rate may be 5.25% with an APR of 5.374 due to the QE Being scaled back or even completely over.
Now that you have to finance $16,000 more due to the increase in the market and the higher interest rate your payment jumps to $1,162.55 or a total difference of $202.12 per month plus $4,133.28 more out of pocket for a total of:
Your best bet for you, your family and your future is to get going now on the approval process, let me and my team help you get qualified right away and save you 10s of thousands of dollars potentially.
NMLS 173141 | LO-0911814 | CA-DOC173141
Branch Manager | Corporate Office
Arizona and California CE Instructor
AMERIFIRST FINANCIAL, INC.
1550 E. McKellips Rd, Suite 117
Mesa, AZ 85203
Amerifirst Financial Disclosure- The opinions expressed here are the personal opinions of Ricky Khamis. Content published here is not read or approved by Amerifirst Financial before it is posted and does not necessarily represent the views and opinions of Amerifirst Financial.