October 25th, 2023 10:50 AM by Kelsey Bergey & 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
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.