Mortgage Lending

Is now the time to purchase a home — or are you betting home prices will drop further?

Mortgage Lending Consider the following:

When rates increase by 1% over their current level, the price of a home would have to drop nearly 11%to match today’s payment.

Buying Power Formula (approx): (Rate + 1%) = (Purchase Price – 11%)

This chart compares the difference of the monthly payment and purchase price for loans with interest rates that vary by 1%. This is an
illustration and does not reflect your actual loan information or the exact interest rate you may receive. Please contact us for current rates.


Purchase price    $1 Million    $895,000
Fixed Interest Rate & APR    5.375% (5.483% APR)    6.375% (6.492% APR)
360 monthly principal & interest payments    $4,479.77    $4,466.91
Loan amount with 20% down payment    $800,000    $716,000

Interest rates provided are for illustrative purposes only and are subject to change daily. The payment amounts provided do not include homeowner's insurance or property taxes which must be paid in addition to your loan payment. Your actual payment may be higher. Closing costs are assumed to be paid by the borrower at closing. If the closing costs are financed, the loan and payment amounts will be higher. Your loan's interest rate will depend upon the specific characteristics of the loan transaction and your credit profile up to the time of closing. If the down payment is less than 20%, mortgage insurance may be required and could increase the monthly payment and APR.


ACT NOW to take advantage of today’s rates and buying power!


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