Your Housing Dollar Goes Further Today

"Financial Savings" Example

What better way to explain how you can benefit from purchasing a home in today's market than a real life example?

Subject property:5 beds/4 baths and 3300 sq. ft.
Location: Henrico County, 23229
Days on market: 136 days

The following scenario assumes good credit and minimum 20% down payment.

Scenario #1 - October 2008
Original list price: $665,000
Sold Price: $665,000
30 yr. fixed rate: 7.875%
Monthly P&I payment: $3857.37

Scenario #2 - September 2010
List price: $569,000
Sold Price: $525,500
30 yr. fixed rate: 4.3%
Monthly P&I payment: $2080.44

Real Money Savings =
$139,500 on purchase price
$27,900 on down payment
$21,323.16 $1,776.93 savings per month x 12
$188,723.16 REAL MONEY SAVINGS

WOW, huh? Remember, it may make economic sense to buy now rather than wait. Many local experts are predicting that we are at the bottom and as soon as we see home prices and interest rates begin to tick upward, you may have lost the financial advantages of homeownership available today.
ACT NOW!