Sticker Shock while House Hunting

October 25th, 2023 10:50 AM by Roxanne Johnson

Do you want or need to move but you are struggling with the prices in today’s market? We understand there may be a bit of sticker shock for some, especially if you are comparing to certain years in the past. The real estate market is ever changing.

If you have sticker shock, we want to remind you of the historically low interest rates. If you currently own a home, buying a move up home can still be within your budget because of the low rates. Before you fixate on the asking price, look at the monthly payment. How does the payment with the low interest rate compare to the payment you have now?

For example...

Purchase Price

$100,000

$150,000

Mortgage Years

30

30

Interest Rate

5.5%

2.5%

Monthly Principle & Interest

$567.78

$592.86

 





Give us a call today to schedule a free buyers consultation, virtually or in person!

Roxanne & Kelsey

 

RE/MAX Select Properties            

507-458-6110

roxannejohnson@remax.net

 

These calculations were made using a mortgage calculator on SEMNrealestate.com, the information is not guaranteed, specific individual situations and lenders will vary.

 

These calculations were made using a mortgage calculator on SEMNrealestate.com, the information is not guaranteed, specific individual situations and lenders will vary.

Posted in:buyingPosted in:Education and tagged: home buyer
Posted by Roxanne Johnson on October 25th, 2023 10:50 AM


RE/MAX Select Properties

"Outstanding Agents, Outstanding Results!"

25 W. Center Street PO Box 425
Harmony, MN 55939