Interest Rate Impact on a Home
May 18, 2015 Posted by Matt
The amount you can afford for a new home may depend on the interest rate. The difference in rates can have a significant impact on your purchasing decision. Ultimately, the interest rate impact on your mortgage will vary based on market conditions and your credit score.
- Even a small increase in interest rates drastically impacts your budget.
- Securing a mortgage now while rates are still low means you can get more house for your money.
- Spend your money on your dream home, not on interest.
Be sure to compare interest rates before you purchase your home. Often times a local community bank will be able to give you a better rate than a large national chain.