Home buying today is much more affordable today than it has been in years.
If you were to buy a home with a loan amount of $375,000 with the interest rate at 6.5% your payment would be $2823.38. this payment refelcts the PITI Payment. P-principal, I-interest, T-taxes and Insurance.
Now if you are to buy the same home today. loan amount $375,000 with interest rate of 3.75% your PITI paNo data entered.yment is $2205.42.
There are loan programs available with 3.5%, 5%, 10%, 20% down. If you put less than 20% down you will have a added expense of mortgage insurance. Vererns can use the VA loan to purchase a home with 0 down
So with the average 3-4 bedroom house renting for $1900 - $2400 a month. You can purchase a home of your own for about what the average rent is.
if you or someone you know is thinking about buying or selling a home. Please have them call me for a FREE consultation, There is no cost or obligation.
Kenneth M Wallis II "Ken"
REALTOR®, CDPE®, SFR®, CSSA®, e-PRO©
Lic. # 01700449