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Interest Rates should be motivating renters

Main Idaho Real Estate Insights
Today I was looking at interest rates and how they affect monthly mortgage payments. What a difference a point makes.

 Talk on the street is that interest rates for home loans will go up sooner than later. I was playing around with how interest payments greatly change the monthly payment on a Boise Idaho Home Loan.

Try it for yourself. Also  tip I have heard several times now is to negotiate on the house to use discounts on the house to buy down the interest rate and you could save more money in the long run with lower onthly payments.

For example, instead of offering $5k less on the home, ask that that money be used in the payment of the home that you would use to get a better rate. Ask your loan professional what buying a quarter point discount on the interest rate is worth?

Trey Langford

 
Posted by tlangford at 5/9/2013 2:06:00 PM

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