Buy a Home Now…..or Wait? Any risk?

Not sure whether to buy a home now or not?  Should you pay down your revolving debt before looking for a home to buy?  How much do you need for a down payment and closing costs?  Do you have too many questions that have you sitting on the fence, unable to decide?  Let me help you make the right decision and answer all your questions and concerns.  I will provide you with a Free, 1 on 1 consultation, with absolutely no conditions.

The median sales price for a single family, detached home in San Diego was $500,000 in January 2015.  That is up 5.26% from the year prior.  And the market is really heating up right now.  Home values have been moving up and we should see good, positive gains this year.

I have been finding many people who are wanting to pay down, or pay off, their revolving debt before looking for a home.  They feel this will improve their credit score and get them a better interest rate.  But, the greater risk is that interest rates can rise.  For example if you were to buy a $500,000 home with a 20% down payment at an interest rate of 3.75% the loan amount would be $400,000 and the principal & interest payment would be $1,852/month.  If interest rates were to increase by 1.00% to 4.75% this would reduce your purchasing power by $56,000!  For the same monthly payment of $1,852 at 4.75% the sales price of the home would drop to $444,000.

I would love to help you out and answer any of your questions.  I am always available at 619-857-4954 or by email at


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