Wednesday, January 8, 2014

Home prices continue to rise ...

As home prices continue to rise - home affordability will be the issue for many.  We continue to see increasing home prices - and now that the Fed has decided to begin tapering - I expect to see interest rates begin to rise as well.  

Today, a veteran in the DC area with good credit can buy a $600,000 home with no money down and their payment would be around $3,600 per month. If that Veteran were to wait a year and the home increased in value by 10% and rates increased by 1% ... that same veteran would have a payment of $4,335 per month. That's a HUGE difference -- $735 per month!  

The principal behind the example above applies to everyone, not just veterans.  Waiting to make your move will cost you.  Contact us today to start your journey to home ownership.

Robert F. Rosenbaum, Jr. 
The Rosenbaum Lending Group
1st Portfolio Lending Corp.
8300 Boone Blvd., Ste 200
Vienna, VA 22182
(703) 879-5200  Office
(703) 608-1110  Cellular
(703) 891-9815  Direct Fax
NMLS License: 649782
Notary Public

Kuntri Yonkwan
Loan Processor
(571) 327-2152 Office
(703) 564-9121 Fax

Please click HERE for our secure online application. 

It’s a good life!

No comments:

Post a Comment