Friday, August 7, 2020 / by Jessica Peterson
Why Now Is A Good Time To Buy?
Sales Price $500k w/
4% interest rate
$2,387.08 | Monthly Payment
$859,348 | Total of 360 Payments
$359,348 | Total Interest Paid
July 2050 | Pay-off Date
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TODAY'S MARKET RATE
Sales Price $500k w/
2.5% interest rate
$1,975.60 | Monthly Payment
$711,218 | Total of 360 Payments
$211,218 | Total Interest Paid
July 2050 | Pay-off Date
Sales Price $500k w/
3% interest rate
$2,108.02 | Monthly Payment
$758,887 | Total of 360 Payments
$258,887 | Total Interest Paid
July 2050 | Pay-off Date
Based on the scenarios above and the lower interests rates, it is possible to get a home with much lower monthly payments. Now is a great time to take advantage! If you are interested in more information or signing up for a one-on-one consultation, feel free to contact us at ContactUs@MGResidential.com or 202.750.8000.