The Case Against Waiting to Buy
Finance costs will rise as the economy recovers,
Trying to time real estate might not pay off.
TODAY$300,000 Put 20% down and get a 30-year fixed rate mortgage |
Typical home price |
Cost in 12 Months$285,000 If prices drop an additional 5% |
|
5.125% Current rates after recent declines |
Interest Rate |
5.625% Recession ends, and rates start to rise |
|
$1,326.37 |
Monthly Payment |
$1,332.18 |
CONCLUSION:
If you waited a year to buy, you would have saved nothing
and spent a year living and paying for someplace you’d rather not be.
Connecticut Home Mortgage
tel. 860-638-4206
fax. 1-800-319-5441
cell. 860-712-7355
Lori Grodzki, CMPS
Certified Mortgage Planner
