Lower Interest Rates Have More Benefits Than You Realize
Interest rates are at an all-time low which means a lower monthly payment. But how much? If you are thinking of purchasing a home for $400,000 with 15% down at 4.25%, between taxes, mortgage interest, insurance, and principal, your monthly payment would be around $2,125. BUT that same home purchased at 3.25%, that would lower your payment to about $1,900. What are you going to do with that saved $225/month? If you put that saving BACK into your home, you'd pay off your mortgage 6 years earlier. This would also save you $41,000 in interest. Listen to the rest of this 3-minute tip to get more information.
Nicole Rueth The Rueth Team of Fairway Independent Mortgage Corporation 750 W Hampden Avenue, Suite 500 Englewood, CO 80110 303-214-6393 www.TheRuethTeam.com