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How Much Money Do I Need To Save For Down Payment
Dated: 08/25/2016
Views: 2093
REAL ESTATE QUESTION #3
Should I wait and Save More Money for Down Payment ?
A 3/2 Home In Port St Lucie Today is $180K= +/- $1300 Total Payment If Prices go up by MODEST 5% The SAME HOME next Year will be $189K Mortgage of $1350 If by Predicted 15% SAME HOME is 207K Payment of $1400 ASSUMING INTEREST RATES STAY THE SAME!! If Interest Rates rise from Average 4.0% to 4.5% Payment will go to $1463 FOR THE SAME HOME YOU COULD HAVE PAID $1300 a Month For This Year. YOU CAN'T AFFORD TO WAIT WE CAN HELP YOU GET DOWN PAYMENT $
Question I Get A Lot
"Shouldn't I just Save more Money for Down Payment??
THE ANSWER IS A RESOUNDING NO!!!!!
The Price of an Average 3/2 Home In Port St Lucie Today is $180,000
Which is +/- $1300 Total Payment including taxes and insurance.
If Prices go up by MODEST 5% (historic average)
The SAME HOME next Year will be $189K
Mortgage of +/- $1350
If by Predicted 15% (they've been going up 20% every year for past 3 years)
SAME HOME is 207K
Mortgage of +/- $1400
ASSUMING INTEREST
RATES STAY THE SAME!!
If Interest Rates rise from
Average 4.0% to 4.5%
Payment will go to $1463
For the SAME HOME
YOU COULD HAVE PAID
$1300 a Month For THIS Year.
Forget about better or more home will you even be able to afford the same as you could have in 2016!!
Can you save $20,000 in a year???
YOU CAN'T AFFORD TO WAIT!!
WE CAN HELP YOU GET DOWN PAYMENT if you don't have it saved for a minimum down payment there are ways with grants, lender credits, seller credits, & bond programs. Usually if you have $2000 saved you can get into a home.
We are experienced in helping people get into homes.
I know buying a home is scary and hard work but this should be your top priority!!!
Dawn Burlace, Realtor®
Atlantic Shores Realty Expertise
772-444-6696
[email protected]
www.MoveToStLucie.com
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