It does not matter if you are a first-time homebuyer or a repeat homebuyer, there…
Changes in mortgage rates impacts your home buying budget.
2021 has brought higher home loan rates but even with the rise in mortgage rates this year, home loan rates are still incredibly low as compared to the historical average. When ever there is a change in mortgage rates, there is a change in what one can borrower. To illustrate, Kevin Martini and Logan Martini have created the Buyer’s Purchasing Power Guide.
When mortgage rates move upward by 1%, buying power is reduced by a little more than 10%.
Chief Mortgage Strategist | Kevin Martini
When buying a home and getting a mortgage...
When buying a home and getting a mortgage, it’s important to determine a monthly budget so you can plan for and understand what you can afford.
However, when you need to stick to your budget, even a small increase in the mortgage rate can make a big difference. The Martini Group Buyer’s Purchasing Power Guide is a tool to use to see the impact.