Just one year of waiting to buy a house could be the mistake that costs you tens of thousands of dollars (see charts below). For example, a homebuyer considering a $250,000 home would lose $7,500 if home prices increase by 3% during that one year time-frame. They would lose an additional $21,391 over the life of a $200,000 mortgage if interest rates also increase by 0.5% during that same one-year time period. The money you’d lose by waiting a year can be even higher if you are considering a higher priced home.
PLEASE NOTE: This article is provided for illustrative purposes only. It is not an offer or commitment to lend you money, and it is not an advertisement for a specific mortgage or a specific interest rate. Contact your local Axia branch to run the numbers for your opportunity.