The Affordability Index continued…
Are you considering buying a home but not sure how much you need saved to be able to buy?
Here is an example for your consideration:
Purchase price $275,000
Mortgage interest rate of 3% (3.36% Annual Percentage Rate)
3% down payment
Closing costs included in your mortgage loan
You would need about $9,000 to apply to a down payment
Your monthly payment – including your mortgage loan, real estate taxes, home owner’s and mortgage insurance - $1576!
Contact me and I’ll show you how we can journey together in search of your new home!