Old Man Winter is coming to Asheville and we want you and your home to…
Interest Rates Won’t Always be this Low!
With the housing market having successes it hasn’t seen since 2008, it is very likely that interest rates will be climbing. The American home buyer has gotten use to seeing interest rates at around 4 to 5 percent. However these are historically low rates and in 1981 the interest rate was 18.45 percent and this can make a tremendous difference in the price of your home.
|
Year |
Cost of Home |
Down Payment |
Interest Rate |
Monthly Payment |
|
1971 |
$200,000 |
$10,000 |
% 7.31 |
$ 1303.88 |
|
1981 |
$200,000 |
$10,000 |
% 18.45 |
$ 2933.82 |
|
1990 |
$200,000 |
$10,000 |
% 9.01 |
$ 1530.15 |
|
2014 |
$200,000 |
$10,000 |
% 4.48 |
$ 960.45 |
|
2016 |
$200,000 |
$10,000 |
% 8.0 ??? |
$ 1394.15 |
From these numbers it is easy to see how much more the same house can cost with a different interest rate. So we want to encourage you to take advantage of these rates before they are gone. If you would like to know more about how you can own a Windsor Aughtry home please contact us homes@windsoraughtry.com
