1. Scott | The Starter:
Scott is a newbie in the home buying game, considering a townhouse that has a market price of $250,000. With a 20% down payment, a 30-year mortgage, and an interest rate of around 5%, Scott’s monthly payment would come to about $1,074. Include property taxes, insurance, and any potential HOA fees, and his total monthly expenses would come up to around $1,374.
2. Emily & Matt | The Upgraders:
Emily and her husband Matt are expecting a baby and need more room. The home of their dreams carries a price tag of $500,000. With a 10% down payment, a 30-year mortgage, and an interest rate of 5%, their monthly payment would be around $2,684. Incorporating property taxes, insurance, and potential HOA fees, the total monthly expense would be approximately $3,484.
3. Hilary | The Idealist
Hilary has discovered her dream property in the perfect neighborhood. This exquisite property is priced at about $1 million. With a 20% down payment, a 30-year mortgage, and an interest rate of 5%, Hilary's monthly payment would be $4,295. Include property taxes, insurance, and possible HOA fees, and Hilary’s total monthly outlay is estimated at about $5,895.
Using these characters can get a rough idea of what you would be paying at different price points. For accurate prices, interest rates, and monthly expenses, talk with a trusted mortgage advisor and get personalized information.
Ready to take the next step? I would be happy to connect you with a trusted mortgage lender and get you set up to receive automated emails each time a home that fits your criteria hits the market.
Stay up to date on the latest real estate trends.
Selling your home can be a challenging process, and while the saying "slow and steady wins the race" might be true for many things, it doesn't apply here.
Are you in the market for a new home?
Is Your Starter Home Starting to Feel Permanent?
Moving into a new home is an exciting chapter, but the process itself can be quite stressful.
Planning a Home Renovation? Check Out Our FAQs!
Are you considering a move to Georgia? Here are 12 compelling reasons why Georgia might be the perfect place for your next home:
Georgia is not just a place to live—it's a destination brimming with unique experiences.
When looking for a new home, safety is often a top priority.
Georgia, often overlooked for its natural beauty, is home to some of the most stunning landscapes in the country.
Born and raised in the peach state, I take pride in what I do and genuinely enjoy helping my clients. Let me be your go-to gal in real estate and help you personally through the process!