Call or Text (505) 379-5849 ..... .....

Curious what 1% change in interest rate does to your buying power?


Do you know the power of 1%

How a 1% increase in interest rates can reduce your buying power

Let’s say you are prequalified right now for a loan amount of $200,000. The interest rate is 4% for a 30 year term. Your principal and interest payment is $954.83. With your other debts, this is the maximum monthly mortgage payment that you qualify for. Notice what happens if rates increase 1%…

Right now…Interest Rate: 4%Term: 30 yearsPrincipal & Interest: $954.83Loan Amount: $200,000

Time passes & rates increase… Interest Rate: 5%Term: 30 yearsPrincipal & Interest: $950.17Loan Amount: $177,000

$200,000 – $177,000 = $23,000

A 1% increase in the interest rate has impacted the loan amount you qualify for by $23,000. Crazy, right? Now think about this: What if rates increase by 2%, 3%, and so on…Apply with Legacy Lending today and keep ALL of your buying power.

Information provided  by Heather Gilstrap of Legacy Mortgage

Request for more info

If you would like more info please fill out this form and we will get in touch with you shortly. In the "comments below please enter the subject you want more info on. Thanks for your time!
About Michael Dunn

Coldwell Banker Legacy Realtors
8200 Carmel NE Ste. 103A
Albuquerque, NM 87122
(505) 379-5849 call or text
Contact Michael to buy, sell or if you just want information about the real estate market! He has been a full time Realtor for over 13 years! He can also help you when relocating to other parts of the country!

Coldwell Banker Legacy Realtors (505) 292-8900 8200 Carmel NE Ste. 103A Albuquerque, NM 87122