Don’t Wait Too Long To Buy

why-buy-a-home-now

 

Interest rates are at an all time record low, but even a one-point increase can raise your monthly mortgage payment. Here’s a look at how interest rates affect mortgage payments.

Monthly Principal and Interest

on a 30-year, fixed-rate $150,000 mortgage

Interest Rate
Monthly Principal and Interest
(does not include taxes, insurance or PMI)
4% $716.12
4.5% $760.03
5% $805.23
5.5% $851.68
6% $899.33
6.5% $948.1
7% $997.95

A 3% interest rate increase can cost you nearly $300 a month!

Copyright © 2013 Kali Real Estate, Inc. *Listings deemed accurate but not guaranteed.