An email about waiting to buy or not waiting … the numbers

March 6, 2009 at 10:34 pm 2 comments

Thought you would like to see an actual email exchange one of our lenders (Deborah Ginac with CapStar Lending here in Austin) had with one of our clients this week on the topic of waiting to buy or not waiting … we think this is a valuable e conversation:

I had a call yesterday from Rachael. She said you two met and you are not sure if you want to move forward and purchase something right now, or wait until you save some more money. You need to be comfortable with the decision you make, but I wanted to make sure you understand the how today’s low rates effect your payment. This is why it is such a good time to buy, besides good deals and the $8,000 tax credit. For instance…

On a home purchase of $160,000 with you spending approximately $10,000, your payment would be $1,281 at a rate of 5%. If you wait to close and spend approximately $20,000 your payment would be $1,224 at 5%. So you save $57. If the rates go up to 5.5% your payment would be $1,269, and at 6% it would be $1,316.

On a home purchase of $180,000 with you spending approximately $10,000 your payment would be $1,430 at a rate of 5%. If you wait to close and spend approximately $20,000 your payment would be $1,382 at 5%. So you save $48. If the rates go up to 5.5% your payment would be $1,434 and it would be $1,488 at 6.0%.

I wanted you to have the numbers to make your decision.

Give me a call to discuss!

The Nelson Project . Keller Williams Realty . austin . tx . 512.794.6608 . www.thenelsonproject.com

www.searchAtown.com

www.TNPforsale.com

email us for a coming-soon list of properties: info@thenelsonproject.com

© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2008-2010. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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Entry filed under: Smart Buyers, Smart Real Estate. Tags: , , .

This Month In Real Estate (US): February 2009 Their First Time: First Time home buyers, ya gotta love ’em…

2 Comments Add your own

  • 1. Matt Warmack  |  March 9, 2009 at 2:20 pm

    I think we are going to look back in 10 years and see 2009 as an amazing year to purchase property!

    Reply
  • 2. Jeff Huang  |  March 12, 2009 at 7:25 pm

    How many % of the first time home buyers are getting FHA loans these days? How many of those buyer are making 3% minimum down payments? Don’t you want to communicate the impact of PMI?

    Reply

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© Julie Nelson and The Nelson Project at Keller Williams Reatly, 2016-2020. Unauthorized use and/or duplication of this material without express and written permission from this blog’s author and/or owner is strictly prohibited. Excerpts and links may be used, provided that full and clear credit is given to Julie Nelson and The Nelson Project at Keller Williams Realty with appropriate and specific direction to the original content.

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