Buy Now & Refi Later
Secure Your Dream Home Now, Refinance Later When Rates Drop!
Secure your dream home now and capitalize on lower rates later with our ‘Buy Now & Refi Later’ offer. Don’t miss out act now or risk waiting for uncertain market conditions.
Borrower A
Buys A Home This Spring
- Purchases a $500,000 home in May 2024
- Puts 5% down ($25,000), finances $475,000
- Secures a 30-year mortgage at 6.750% APR interest
- After one year, owes $469,937
- In May 2025, refinances at 5.750% APR, borrowing $472,000
- Post-refinace mortgage payment: Approx. $3,216 PITI
Borrower B
Waits Until Next Spring
- Home values increase by 6% APR
- Purchases the same home in Spring 2025 for $530,000
- Puts 5% down ($26,500) finances $503,500
- Secures a 30-year mortgage payment: Approx. $3,451 PITI
Borrower A |
Borrower B |
|
Owes |
$472,000 | $503,500 |
Equity |
$58,000 | $26,500 |
Payment |
$3,216 | $3,451 |
Equity % |
10% | 5% |
Buying now and refinancing later offers the advantage of building higher equity and enjoying lower payments, with the understanding that timing the market can profoundly affect long-term financial outcomes. It’s crucial to carefully weigh the trade-offs between immediate costs and potential future benefits.
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