Tuesday, November 12, 2013 / by Veenstra Team
Kalamazoo MI Real Estate - November 13, 2013
Check out last Friday's (11-8-13) interest rate at one of our local Kalamazoo credit unions.
15 Year Fixed
That interest rate is still near an all time low! Let us know if you want to take advantage of it and want to look at some houses in the Greater Kalamazoo area so you can find one you want to purchase! This great rate can't last too long!
You might like to see a real example of what a higher interest rate does to your monthly payment and the cost of your house over the long term too! According to the bankrate.com calculator...
At an interest rate of 3.25% a $150,000 house will cost approximtely $1054.00 monthly (not including taxes and insurance).
At an interest rate of 4.25% a $150,000 house will cost approximtely $1128.42 monthly (not including taxes and insurance).
At an interest rate of 5.25% a $150,000 house will cost approximtely $1205.82 monthly (not including taxes and insurance).
So, at the end of 15 years, if you have an interest rate of 5.25%, you will pay approximately $27,326.00 MORE for your Kalamazoo home than in you had a rate of 3.25%. Give us a call at 269-350-5514 if you have some houses that you would like to preview so you can take advantage of the low interest rates available today! Our home buyer services are completely free and you get to benefit from our experience just like all the other home buyers and sellers that we have helped since 1986. We are ready to help you meet your Kalamazoo real estate goals!
David Veenstra, Kalamazoo and Portage area REALTOR
Jason Veenstra, Kalamazoo and Portage area REALTOR