CASH ON SALE!

When you purchase real estate using a mortgage you are buying not only the home, but the money to buy the home as well.
When rates are down money is technically on SALE. Here is a quick example of what this means in terms of payments and purchasing power.

-Interest Rates at 6.5% on $400,000 equal a payment of $2,528
-When rates drop to 5.5% on that $400,000 loan your payment is now $2,271
-The difference in the rates is like getting a $41,000 price concession on the home, (your payment at 6.5% would be $2,271 on a $359,296 Purchase, a $41,000 effective savings)