This is a YouTube video titled "Don’t Wait to Buy Your New Home" containing a monologue or presentation from February 15, 2022, discussing financial considerations for homebuyers, including interest rates, down payments, and monthly payment impacts when deciding whether to buy now or later. The content features a single speaker explaining an example scenario to potential clients.
Conversations today with clients that wanted to save up a little bit more money and buy at the end of the year. I wanted to share what one of those examples looked like. This person's looking at a $300,000 house today. FHA financing 3.65% Rate $10,000 down payment if they wait to the end of the year, people are projecting interest rates could go up another half percent by the end of the year. That would cost them $86 a month in their payment. The extra 10 grand does save them 46 bucks a month, but house prices going up an extra 10% on average will cost them 137. So in total, they're going to save up an extra $10,000 and still have $177 a month higher payment.
