How Much House Can You Afford with the Current Interest Rates?

How are higher Interest Rates going to affect Home Price Affordability? Stay tuned to learn why you should be buying a home now.

Now, here’s the real question. What does a higher interest rate mean for your dream of a home purchase? I’m Brandi Cook of Aiken Homes Team of Meybohm Real Estate and I really love helping buyers realize their dream of homeownership.  

If you plan on getting a loan, higher interest rates will reduce the amount of home you can purchase and qualify for. This is true for homes in Aiken, SC, Augusta or Evans, Georgia, the east or west coast basically anywhere. Hi I’m Vikki Crossland of Aiken Homes Team of Meybohm.

Vikki and I want you to check out this great visual to show what we mean. It’s a hypothetical example based on estimated principal and interest payment only of $1500 per month.

Notice for every 1/4 % more of interest rate you lose about $10,000 in buying power in this example. Starting at $334,000 down to $296,000.00

Yes, the market might feel tough right now, but it’s still possible to secure a home in today’s market. The Best Time to Buy is NOW.

The KEY is to work with a real estate professional willing to dedicate time to you to navigate today’s market effectively as your buyer’s agent.

 We are the team with the experience to advise you in this high-stake real estate market.

To keep up with these valuable topics of what’s happening in the real estate market like our page https://www.facebook.com/AikenHomesTeam and subscribe to our YOU Tube channel at https://www.youtube.com/user/aikenhomesteam

It’s your HOME, your LIFESTYLE and WE are your real estate team.

Brandi Cook and Vikki Crossland

Meybohm Real Estate

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