Cost Of Waiting
You keep hearing “historically low interest rates”, but what does that really mean to you? When rates goes up even by just 1%, the cost of a home can rise by thousands of dollars.
In the table below, pick your monthly payment on the left and scan across to see how an increase in rates impacts your purchase power.
| Monthly Payments | 4.5% Interest Rate | 5% Interst Rate | 5.5% Interest Rate | 6% Interest Rate |
|---|---|---|---|---|
| $600* | $118,417 | $111,769 | $105,673 | $100,075 |
| APR | 4.688% | 5.201% | 5.715% | 6.229% |
| $800* | $157,889 | $149,025 | $140,897 | $133,433 |
| APR | 4.666% | 5.177% | 5.689% | 6.201% |
| $1000* | $197,361 | $186,282 | $176,122 | $166,792 |
| APR | 4.653% | 5.163% | 5.673% | 6.184% |
| $1200* | $236,833 | $223,538 | $211,346 | $200,150 |
| APR | 4.645% | 5.154% | 5.663% | 6.173 |
| $1400* | $276,306 | $260,794 | $246,570 | $233,508 |
| APR | 4.639% | 5.147% | 5.656% | 6.165% |
| $1600* | $315,778 | $298,051 | $281,795 | $266,867 |
| APR | 4.634% | 5.142% | 5.650% | 6.159% |
| $1800* | $355,250 | $355,307 | $317,019 | $300,225 |
| APR | 4.631% | 5.138% | 5.646% | 6.155% |
I can help you learn more about rates, qualifying, or whether now is a good time to buy or refinance. Call Today!
Contact us
IDS CENTER
80 South 8th Street, Suite 4905
Minneapolis, MN 55402
612-224-2000
info@eliteagencymn.com
