Thinking of Buying a Home in Atlanta GA? The Time to Buy is NOW!

Buying a Home in Atlanta GA - First time home buyers

THE TIME TO BUY A HOME IN ATLANTA IS OFFICIALLY... NOW. 

INTEREST RATES ARE THE LOWEST IN HISTORY!

Just in case you haven't heard the news, mortgage interest rates hit an ALL-TIME LOW on October 6, 2011!  Interest rates are now below 4% (3.94% was actually the average for a 30-year fixed rate mortgage).

For the last year or two you've been hearing about interest rates that are "near historic lows" and it can get a little old.  BUT the Feds have purposely dropped mortgage rates further to get potential buyers to purchase a home -- and it is an amazing opportunity!

So how does this actually impact your wallet?

To follow are two examples that might help to put things into perspective...

EXAMPLE #1

If you purchased / financed a home for $200,000 at an interest rate of 5.5 percent (the standard for the last few years), your monthly payment - before taxes and insurance -- would be about $1,100.

If you purchased the same home for $200,000 at today's interest rate of 3.94%, your monthly payment - before taxes and insurance -- would be about $780.

That's a savings of $320 per month and $3,840 per year!

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EXAMPLE #2

If you purchased / financed a home for $350,000 at an interest rate of 5.5 percent (the standard for the last few years), your monthly payment - before taxes and insurance -- would be about $1,925.

If you purchased the same home for $200,000 at today's interest rate of 3.94%, your monthly payment - before taxes and insurance -- would be about $1,379.

That's a savings of $546 per month and $6,552 per year!

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With home values averaging 20 to 30% less than they were just a few years ago and the amazing interest rates, this Fall is one of those "once in a lifetime" opportunities to invest in your future.

 

If you have questions about the interest rates, current home values and/or the home buying process, please call us anytime at 404.432.1844.  We would be happy to chat on the phone or grab a cup of coffee with you!

** If you are a first time home buyer, be sure to ask us about a first-time home buyer handbook!

Posted by:  

Kerry Lucasse - Ian Marshall Realty - Nest Atlanta Realty Group

Specializing in the Atlanta Intown Neighborhoods

Direct Phone -  404.432.1844

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