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Luba Muzichenko San Francisco Real Estate

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Mortgage Rates Going UP and How it Affects Your SF Home Purchase

January 31, 2011 By Luba

Per the folks over at Daily Real Estate News mortgage rates are heading upwards.  And while rates are STILL historically low, the increase in rates CAN affect your purchase power significantly.

How significantly, you ask?

Well, using some really round numbers, a couple with NO debt that makes $200,000 a year can afford a mortgage of about $780,000 at 4.5% interest.  At 5% interest, the loan about is $745,000.  And at 5.5%, the loan amount is $705,000.  ALL of these amounts will cost you $4,000 per month.

So, remember, rates ARE at historical lows, and if they do go up, they are still expected to stay historically low (let’s not forget, the 1980’s saw double digit interest rates!!!)

But if you pass up a property because you are looking for a bargain, you may find that you can’t afford that bargain if interest rates creep up, even by 1/2 a percentage point.

Good luck and happy hunting!  And if you need a great mortgage broker to provide you with advice on what you CAN afford, give Tim Higbee of Guarantee Mortgage a shout!  He’s professional, honest, available and even does FHA loans.

Filed Under: San Francisco Local Resources, San Francisco Mortgage & Financing Info, San Francisco Real Estate, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions Tagged With: san francisco mortgage, San Francisco Real Estate, sf mortgage, SF Real Estate

Real Estate Interest Rates from your San Francisco Mortgage Broker

January 25, 2010 By Luba

House & Money (small)

Tim Higbee, from Guarantee Mortgage gives us the latest mortgage rates for the week ending Friday, January 22, 2010.
Please note that rates vary greatly based on credit scores and loan to value.

FHA 30year Fixed
Rate APR Payment Closing Cost    

4.875%

5.340%

$1,323

$7,244

Details  

4.750%

5.252%

$1,304

$8,494

Details  

4.625%

5.231%

$1,285

$11,932

Details  

 

30 Year Fixed
Rate APR Payment Closing Cost    

4.750%

4.834%

$1,304

$2,790

Details  

4.625%

4.763%

$1,285

$4,375

Details  

4.500%

4.700%

$1,267

$6,250

Details  

To get YOUR rate quote, give Tim a holler, his contact info is below:
Tim Higbee
Sr. Mortgage Consultant
CA DRE LIC #01346292
415-648-1202 (direct)

Filed Under: San Francisco Mortgage & Financing Info, San Francisco Real Estate Info for Buyers, San Francisco Real Estate Info for Sellers, San Francisco Real Estate Market Conditions Tagged With: san francisco mortgage, San Francisco Real Estate, San Francisco Realtor, sf mortgage, SF Real Estate, SF Realtor

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