Our good lender friends at First Heritage Mortgage in Fairfax, recently shared "the cost of waiting" numbers with our brokerage.  With still historically low interest rates, below is the reality of delaying a purchase for another year.  Sellers should take note that this will also impact the sale of your property, too.

The left side is today's mortgage amount, the right side of the column is the monthly P & I increase in 12 months.                        

 

$100,000    $82.06
$200,000    $164.12
$300,000    $246.18
$400,000    $328.23
$500,000    $410.29
$600,000    $492.35
$700,000    $574.41
$800,000    $656.46
$900,000    $738.53
$1Million    $820.58