How Rising Interest Rates Effect You

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How Rising Interest Rates Effect You:

How Rising Interest Rates Effect You Keith Mann

Slide2:

Interest Rates 9% - 16% Interest Rates 9% - 12% Interest Rates 5% - 8% Interest Rates 9% - 16% Interest Rates 9% - 12% Interest Rates 5% - 8%

Interest Rates and Monthly Payments:

Interest Rates and Monthly Payments Monthly Mortgage Payment $1,670.95 Interest Rate 4.0% Monthly Mortgage Payment $1,878.88 Interest Rate 5.0% Monthly Mortgage Payment $2,098.43 Interest Rate 6.0% Mortgage Amount: $350,000 Mortgage Term: 30 Years Down Payment: 20%

Slide4:

For example, let’s say the maximum monthly mortgage payment you can afford is $1,911.00 When the Interest Rate is 6 .0% You Can Afford a $283,000 Home or Condo When the Interest Rate is 4.0% Home Price You can Afford Interest Rate You Can Afford a $351,000 Home or Condo

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