Cost of Waiting to Buy
This shows a buyer what can happen to the payment if while they are waiting for the price of the home to come down, the interest rate were to go up.
Due to the higher interest rate, the home may have a higher monthly payment even though the price of the home was less.
Housing affordability is based on price and interest rates.
This is not an offer of credit but is a general illustration of typical mortgage terms and concepts. Greg Shepard and Jack White Real Estate are not mortgage lenders. You should contact a specific lender to learn more about its mortgage products and your eligibility for such products. License: AK.18135