Buying or Not Qualifying-What a Difference Interest Rates Make

Written by Posted On Saturday, 04 January 2014 03:20


Impact of Rates on Payment


It is important to consider not only the price of the home but also the cost of financing. The higher the mortgage interest rate, the less house you can afford. The lower the interest rate, the more house you can afford.  The chart below shows what happens to your mortgage payment at various interest rates.

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