Would $122 extra dollars each month make a difference in your budget?
-A night out on the town?
What would you do with an extra $1,466 per year?
-A nice vacation?
Does a savings of nearly $44,000 over 30 years sound appealing?
Wow!
Well, that is the difference between a 4.5% interest rate and a 5.5% rate on a $200,000, 30 year loan.
An upswing of just one percentage point can make a difference in not only the monthly principal and interest payment, but also impact your buying power.
The payment on a $225,000 loan paying 4.5% over 30 years is less than $5 per month more than what you would pay on a $200,000 loan at a 5.5% rate.
Rates are currently at or near historic lows. Don't miss this opportunity!
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