Robart Realty Group | Nevada Real Estate | Keller Williams

Interesting bit of info from my good friend and mortgage lender Mark Baker at Cardinal Financial... Did you know a 1% change in interest rate equals 10% LESS in buying power for the same payment? Example:      4.5% rate, for 30 years at $1,393 PITI = $275,000 Mortgage     5.5% rate, for 30 years at $1,393 PITI = $245,314 Mortgage (10.79%less)     6.5% rate, for 30 years at $1,393 PITI = $220,472 Mortgage (19.83% less) As interest rates increase, Buyer’s qualify for 10% LESS in Purchase Price for every 1% in rate. If you have a Buyer waiting for prices to "go back down", they might not understand the "Interest Rate Risk". Mark Baker "The Mortgage Maker"  |  NMLS ID 274071 Cardinal Financial Company, L.P. | NMLS ID 66247 (702) 451-1040 Office www.MarkABaker.com

Pretty big news for buyers and sellers... HUD just announced they are going to lower the FHA monthly MI .25% starting January 27, 2017. That means that the monthly MI, goes from .85% of the loan amount to .60% of the loan amount. In other words, on a $100k loan the monthly MI is .85% or $850.00 / 12 ($70.73 per month) & now that same MI would be .60% or $600.00 / 12 ($50.00 per month). What this means is simply the buying power just went up for a FHA borrower! IF YOU ARE READY TO BUY OR SELL CALL ME IMMEDIATELY FOR A FREE CONSULTATION. 702-328-4583 SEARCH FOR LAS VEGAS HOMES www.RobartRealtyGroup.com News release:  https://portal.hud.gov/hudportal/HUD…