Rent vs. Own… · Rent 3% Down 5% Down 10% Down 20% Down Purchase Price N/A $500,000 $500,000...

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“Owning a home is a keystone of wealth, financial affluence, and emotional security.” - Suze Orman Rent 3% Down 5% Down 10% Down 20% Down Purchase Price N/A $500,000 $500,000 $500,000 $500,000 Down Payment N/A $15,000 $25,000 $50,000 $100,000 Loan Amount N/A $485,000 $475,000 $450,000 $400,000 Rate N/A 3.875% 3.875% 3.875% 3.875% APR N/A *4.364% *4.198% *4.050% *3.875% Terms (month) N/A 360 360 360 360 Total Payment $3,000 $3,158.79 $3,018.42 $2,826.07 $2,455.95 Principal Paid $0 $714.51 $699.77 $662.94 $589.28 Net Monthly Pay $3,000 $2,444.28 $2,318.65 $2,163.13 $1,866.67 Net Monthly Savings $0 $555.72 $681.35 $836.87 $1,133.33 Cash To Close** $0 $22,454.75 $32,454.75 $57,454.75 $107,454.75 RACHEL LURA, REALTOR® THE RESULTS REALTY GROUP | LAER REALTY PARTNERS (508) 905-9442 | [email protected] | OPENHOUSERACHEL.COM RACHEL LURA (508) 905-9442 [email protected] OPENHOUSERACHEL.COM *Rates shown are subject to change based on your financial situation. ** Cash To Close includes downpayment. The information contained in this table is distributed for educational purposes only. This is not an offer to enter into an agreement. Fairway Independent Mortgage Corporation does not guarantee a mortgage loan will reduce monthly housing costs. Any potential savings from monthly mortgage payments are based on individual factors. Contact your Fairway Loan Officer for more information regarding your specific situation. Daniel Ventura Branch Manager NMLS:19372 [email protected] 978-479-3625 40R Merrimac Street Suite 202W Newburyport, MA,01950 Molly Sterns LO Assistant - Licensed NMLS:1836959 [email protected] 978-225-6232 100 Conifer Hill Dr. Suite 310 Danvers, MA,01950 If you are currently paying close to $3,000 per month on rent, and you are waiting for the right moment to become a home owner, consider yourself ready! The table below shows the potential net savings to you when you purchase a $500,000 home with 3%, 5%, 10% or 20% down, in today’s interest rate* environment. It’s time to put yourself in the driver’s seat of your financial future. I can help you to stop building your landlord’s equity and start building your own! I would love to chat with you and see how we can create a new goal and achieve it together! Your Equity Is Your Path To Financial Freedom

Transcript of Rent vs. Own… · Rent 3% Down 5% Down 10% Down 20% Down Purchase Price N/A $500,000 $500,000...

Page 1: Rent vs. Own… · Rent 3% Down 5% Down 10% Down 20% Down Purchase Price N/A $500,000 $500,000 $500,000 $500,000 Down Payment N/A $15,000 $25,000 $50,000 $100,000 Loan Amount N/A

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Rent 3% Down 5% Down 10% Down 20% Down

Purchase Price N/A $500,000 $500,000 $500,000 $500,000

Down Payment N/A $15,000 $25,000 $50,000 $100,000

Loan Amount N/A $485,000 $475,000 $450,000 $400,000

Rate N/A 3.875% 3.875% 3.875% 3.875%

APR N/A *4.364% *4.198% *4.050% *3.875%

Terms (month) N/A 360 360 360 360

Total Payment $3,000 $3,158.79 $3,018.42 $2,826.07 $2,455.95

Principal Paid $0 $714.51 $699.77 $662.94 $589.28

Net Monthly Pay $3,000 $2,444.28 $2,318.65 $2,163.13 $1,866.67

Net Monthly Savings $0 $555.72 $681.35 $836.87 $1,133.33

Cash To Close** $0 $22,454.75 $32,454.75 $57,454.75 $107,454.75

RACHEL LURA, REALTOR® THE RESULTS REALTY GROUP | LAER REALTY PARTNERS

(508) 905-9442 | [email protected] | OPENHOUSERACHEL.COM

RACHEL LURA (508) 905-9442

[email protected] OPENHOUSERACHEL.COM

*Rates shown are subject to change based on your financial situation. ** Cash To Close includes downpayment.

The information contained in this table is distributed for educational purposes only. This is not an offer to enter into an agreement. Fairway Independent Mortgage Corporation does not guarantee a mortgage loan will reduce monthly housing costs. Any potential savings from monthly mortgage payments are based on individual factors. Contact your Fairway Loan Officer for more information regarding your specific situation.

Daniel Ventura Branch Manager

NMLS:19372 [email protected]

978-479-3625 40R Merrimac Street Suite 202W

Newburyport, MA,01950

Molly Sterns LO Assistant - Licensed

NMLS:1836959 [email protected]

978-225-6232 100 Conifer Hill Dr. Suite 310

Danvers, MA,01950

If you are currently paying close to $3,000 per month on rent, and you are waiting for the right moment to become a home owner, consider yourself ready! The table below shows the potential net savings to you when you purchase a $500,000 home with 3%, 5%, 10% or 20% down, in today’s interest rate* environment. It’s time to put yourself in the driver’s seat of your financial future. I can help you to stop building your landlord’s equity and start building your own!

I would love to chat with you and see how we can create a new goal and achieve it together!

Yo u r E q u i t y I s Yo u r P a t h To F i n a n c i a l F re e d o m