That new home is closer than a click of the heels away! Nothing can get in your way, not even interest rates. It might sound crazy, but interest rates may not affect your ability to purchase a home at all, and here’s why:⠀
Let’s look at an example. A loan of $175,000 at 4.000% interest will have a principle and interest payment of $835.65. This same loan at a rate of 5.000%, $939.66 – or around $104.00 more. Depending on your comfort level with payment, it may not have any bearing on your ability to purchase a home. ⠀
Ultimately, it should be your lender’s goal to get you the best rate possible in the loan program that’s right for you. They’ll also help you set a realistic expectation of a rate-range for the duration of your transaction.⠀
Don’t let an interest rate – or your anxiety rate – keep you from purchasing a home.⠀
Find your private sanctuary, where you make the rules, even in fuzzy slippers and lounge pants. If you are thinking of buying a home, you’ll need someone in your corner. Someone you can trust, talk straight, explain the many options, and walk you through the steps. We want to be that someone. Give us a call at 406-651-2328 to set up an appointment with a lender to talk details and options. Or, visit us at any of our branch locations nearest to you to get more information. Not ready to talk? You can still determine rates that may fit your scenario with our calculators and some more information you can find here.