One of the deciding factors for most prospective home buyers in the Monarch Beach real state market is if the monthly mortgage cost associated with buying a home is affordable or not. There are so many factors that influence the monthly mortgage payment and one of the biggest is the interest rate you get when you close on a home.
Interest rates vary from person to person and are determined by two things: 1) the daily rate average and 2) your credit. The lower the daily rate average and the higher your credit score, the lower your interest rate will be. And the lower your interest rate, the lower your mortgage cost for a Monarch Beach home.
Thankfully, the Federal Reserve just lowered interest rates – two times in the last month. This means that money you borrow to buy a home will now cost you less per month then it would have in the past, making it possible for you to afford a new Monarch Beach home or Dana Point home.
If you want help understanding how much home you can afford and how these interest rate cuts can help you own the Dana Point home of your dreams, give me a buzz today at 949-240-3308.
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