Mortgage rates are still very low and present Buyers with an
opportunity to buy more of a home for the same monthly payment.
The following is an example for a quick comparison.
Lets say you can budget $700.00 per month for your payment on the
mortgage. If you were to work with a 30-year mortgage at 7.50%
interest, considered a good rate a few years ago, you would be able
to afford a home worth about $100,000. Now if you obtained an
interest rate of 6.00% you would be able to afford a home worth
almost $117,000. Use the mortgage calculator below to play with
some different factors to see what you may be able to buy based on
your own financial ability.
|MID FLORIDA REAL ESTATE BROKERAGE
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