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THE COST OF
WAITING
let's take a look at a few home purchase scenarios
Scenario #1
Rates & home prices slightly increase
Scenario #2
Rates increase moderately as many predict & home prices stay level
Scenario #3
You save more for a larger downpayment but rates & home prices increase moderately
QUICK EXAMPLE
Home Price: $750,000
Down Payment: 5%
Interest Rate: 4.25%
While you wait (~6 months)
Rates & home prices slightly increase
Prices go up just 1%
Rates go up just .25%
Differences after waiting
The same home now costs $7500 more
Your monthly mortgage payment is now $141 more
Over 3 years that’s $5,081 in additional loan costs
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