Like many buyers you may be focused on your monthly budget and not rates. So, what does this mean to you? It means more house or more money in your pocket!
Let's say that your budget allows you to invest $1500 per month in housing. That $1500 includes principle, interest, tax and insurance. If you were buying a home when the interest rates were 6%, with a $1500 per month budget you were likely shopping for a $200,000 home in Edmond.
With the same budget in mind today, you can shop for a $250,000 home in Edmond! That can translate to a bigger home, a different neighborhood, or maybe a newer home. Or, you might consider sticking to the $200,000 price range and dropping your payment by around $300 per month! What would you do with an extra $300?
What are you waiting for? Call me today at the CENTURY 21 Goodyear Green office, 405-359-7400 and I will connect you with a reputable lender in our area.
