A good rule of thumb is for every 1% increase of interest rate there is a 10% decrease in purchase power. It's surprising to most buyers. This new year is going to bring many new opportunities to find a home. If you are still possibly considering a purchase you may want to know this very important particular bit of information.
Please see this example to show your buying power depending on what interest rate you lock your loan in at.
As a buyer it's vital to know your market and what options you have. I'm here to guide you through the process. If you have any questions about this I would be happy to explain it further.
If you are interested in looking for a home in the San Luis Obispo County area, please call me or email me I'd be happy to help.
|"A Realtor that knows homes."|
License #01875751, ecoBroker #16082