Interest rates are at an all time low, but they won’t stay that way for long. If you act fast you can save yourself alot of money in interest over the term of your loan or you can get more home for your dollar.
The monthly payment on a $200,000 30 year mortgage loan at 4.5% interest is $1,013.37. At 6% it is $1,199.10. That is an increase of $185.73 per month payment if you wait and rates go up. Over the 30 year life of your mortgage you would pay a staggering $66,862.80 more – that is just the difference of a 1.5% increase.
Now is the time to make your new home a reality. Call Scott Breuer today for more information at 763-441-6044.
If building isn’t an option for you right now but you want to take advantage of these low rates call Ann Marie Breuer at 612-685-8811 and she can help you find the existing home of your dreams.