Affordability

If buying a home is in your future, here's why it should be in your very near future.

Whether you're a first-time buyer or you have your own home to sell, today's conditions are right for you. Interest rates aren't just low; they're very near their historic lows. Never underestimate the risk of higher interest rates when you're ready for a mortgage. There can be a very significant cost to waiting, especially at a time like this when rates are expected to rise.

As shown in our chart below, even a 1% rise in rates can create significantly higher monthly payments. That's especially important to consider if you've been waiting to sell in the expectation that your home will gain in value. Why? Because the higher rate would more than offset any gains you might derive by selling at a higher price.

What's more, the price of the home you'll want to purchase is just as likely as yours to go higher and wipe out any gain you might expect in your selling price. In other words, a higher interest rate can actually do more to raise your monthly mortgage payment than a higher purchase price will.

To learn more, call your local Weichert office. A Weichert mortgage expert from Weichert Financial Services will be on hand to answer your questions and discuss your particular situation.

Interest rates for comparison purposes only. Featured monthly payments savings are based on a 280,000 30-year mortgage calculated with closing costs of $10,000 with an increase from 4.25% (4.547% APR) to a 280,000 30-yr mortgage 5.25% (5.566% APR). Mortgage rates and programs are subject to qualified buyers. Certain conditions and restriction apply. Not available on all mortgage loan products or property types. Figures herein are approximate and do not include property taxes, hazard insurance, or homeowners association dues for a condominium purchase. Actual payments will be higher. Closing costs vary on a loan by loan basis. Rates and programs are subject to change.

Equal Housing Lender.

Company NMLS # 2731 (www.nmlsconsumeraccess.org). Mortgage Access Corp. d/b/a Weichert Financial Services, Executive Offices: 225 Littleton Road, Morris Plains, NJ 07950. 1-800-829-CASH. Licensed Mortgage Lender - Alaska Mortgage Broker/Lender License #2731, AR, Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act, CO Mortgage Company Registration Regulated by the Division of Real Estate, CT Department of Banking, Licensed by the Delaware State Banking Commissioner #1577, DC, FL, GA Residential Mortgage Licensee #15719, IL Residential Mortgage License #MB0006377, IA, IN, KS Licensed Mortgage Company #MC.0001229, KY, LA, ME, MD, MA Mortgage Lender and Broker Licenses #MC2731, Licensed by the MS Department of Banking and Consumer Finance, MN, NE, Licensed by the New Hampshire Banking Department, Licensed by the New Jersey Department of Banking and Insurance, New Mexico, Licensed Mortgage Banker – New York Department of Financial Services, NC, OH Registration #MBMB.850209.000 & #SM.501248.000, OK, OR Mortgage Lending License #ML-2528, PA Mortgage Lender License #20142, RI Licensed Lender and Loan Broker #20041723LL, SC, TN, TX, VT, Licensed by the Virginia State Corporation Commission - Lender License #MC-297, NMLS #2731 (www.nmlsconsumeraccess.org), WV, WI, and WY. Weichert Financial Services arranges loans with third-party providers.

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