Here is the proof:

A 100,000 loan at 6% interest would cost $599.00 per month.

$599.00 x 12 months = $7,194.72 per year times 30 years = $215,841.60 total cost for the loan at 6%

A 100,000 loan at 5% interest would cost $536.83 per month.

$536.83 x 12 months = $6,441.96 per year times 30 years = $193,258.80 total cost for the loan at 5%

$215,841.60 minus $193,258.80 = $22,582.80 savings!!!

HERE IS HOW:

Interest rates are at an all time low currently hovering below 5%! The difference in savings from a 6% interest loan and a 5% interest loan on a $100,000 mortgage works out to $22,680!! If you wait to get $8,000 from the government and the interest rate goes up just 1% you will pay $22,680 more over the life of the loan.

Compare that to what some companies are now offering where you will get up to $8000 in seller concession and you will quickly find out that you are being penny wise and pound foolish. You see, the sellers commonly inflate the asking price to cover the concessions which means you are simply borrowing the additional money to buy that house AND you will be paying interest on that money for 30 years! You also run the risk that the home may not appraise for the new sale price and you may not get approved for the loan.

Don't fall for the trap. Your best bet is to call us now and purchase a home while the interest rates are under 6%. We have a nice inventory of homes and we won't offer any gimmicks to get you to buy one. We will simply find you the best priced home at the lowest interest rate possible.