The Potential Cost of Waiting to Buy a House
“I’m not sure…… maybe we should wait a few months
and see what the market does.”
It’s natural to be uncertain about whether or not now is the perfect time to buy a home, but did you know there can be a cost to waiting? Property values continue to rise, which in turn could raise your loan amount and your down payment for the duration of your loan. Additionally, we’re seeing interest rates start to increase slowly over time. Even a quarter of a percentage can drastically affect your monthly principal & interest payment amounts, either costing or saving you a considerable amount. The sooner you lock in a favorable rate, the more money you can save each month.
Your local mortgage expert!
V.P., Loan Officer, NMLS #221438
16253 Swingley Ridge Road
Chesterfield, MO 63017