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Real Estate
Eileen M. Day realtor ss.rs
RARE OPPORTUNITIES
FOR HOMEOWNERS
Homeowners who bought their homes three or four years ago when interest rates were higher now have some rare opportunities to upgrade their home investment without increasing their monthly mortgage payment costs.
It is possible that the monthly payments that many homeowners are now making could enable them to buy a larger, upgraded home or could be used to pay off their mortgage in a shorter time period through refinancing.
For example, 1982 - payments of around $1,250 per month were required for a 30-year fixed-rate loan. The family that is comfortable with the present level of payments for a 15% mortage can sell its present home and move up to a larger home at no appreciable additional mortgage cost.
If that family prefers, it can refinance the present mortage. By continuing the present level of payments, the new mortgage will be paid off in less than half the time, or the monthly payments can be reduced — all good options if you want more for your money!
If there is anything we can do to help you in the field of real estate, please phone or drop in at EILEEN M. DAY, Realtor, The Clopton House, Washington, VA. 22747. Phone: 675-3400. We’re here to help.
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