#ChickChat Episode 48- The Role of Your Interest Rate
This episode is all about why the price you pay for the home doesn't even matter.
We are seriously in a very big seller's market. So the price you pay for a home doesn't matter as much as your interest rate, which is really, really good news because interest rates right now are very, very low. The best way to decrease your monthly payment is by getting the best interest rate possible. It plays a pretty big role. For example, if you write an offer on a $300,000 house and your interest rate is 3%, you will be paying about $1,650 a month. Now, if that interest rate were to change and go up to 5%, you'd be paying almost $2,000 a month. So that is why the price of the home does not matter. What you really need to take into account, especially in this market, because we have to work with what we can control... So let's get our interest rate as low as possible. So talk to me or talk to a lender about how you can make that happen.
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