Summit NJ Home Buyers, Did you know, the Federal Reserve has cut the interest rate they charge banks 1.25% over the past few weeks? This could have a huge effect on the home you can now afford to purchase in Summit NJ or other surrounding towns.
Have you talked with your mortgage person lately? With every 1% mortgage interest rate reduction the typical mortgage payment drops 9%. This can make a huge difference in the home you can afford. For example, if you thought that the highest home price you could afford was $700,000 you could move that number up to $763,000 with a 1% mortgage interest rate cut, and still have approximately the same mortgage payment.
For a complete Summit NJ MLS Search of off all the homes currently for sale in Summit NJ and surrounding towns please be my guest and visit www.jboyerhomes.com/search.php
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