How does the rise in mortgage rates affect YOUR purchasing power?

Are you ready?

Do you know how it will affect you?

Which house would you prefer?

THIS

 

OR THIS?

Are you contemplating purchasing a home?  A lot of buyers make the mistake of only looking at the sale price of a property when deciding to buy a home or vacation home.   In reality, the timing of the purchase  could be even more important.  If you have been on the fence, the time to purchase may be now.   

Consider this……

For each percentage the Federal Reserve raises interest rates, it decreases a buyer’s purchasing power by 9 to 11% (depending on loan amount) – and the Fed’s have given every indication that rates will be going up!  The interest rate you pay on a home  affects you monthly over the life of the loan.

  Below is a graph that gives some great examples of how interest rates affect YOU, the consumer.

Monthly Payment Table for 30 year loan with Interest Rates from 3.500 to 6.000 Percent

---

Loan	3.500	3.812	4.125	4.438	4.750	5.062	5.375	5.688	6.000
150000	673.57	700.00	726.97	754.47	782.47	810.97	839.96	869.41	899.33
160000	718.47	746.67	775.44	804.77	834.64	865.04	895.95	927.37	959.28
170000	763.38	793.34	823.90	855.06	886.80	919.10	951.95	985.33	1019.24
180000	808.28	840.00	872.37	905.36	938.97	973.17	1007.95	1043.30	1079.19
190000	853.18	886.67	920.83	955.66	991.13	1027.23	1063.95	1101.26	1139.15
200000	898.09	933.34	969.30	1005.96	1043.29	1081.30	1119.94	1159.22	1199.10
210000	942.99	980.01	1017.76	1056.25	1095.46	1135.36	1175.94	1217.18	1259.06
220000	987.90	1026.67	1066.23	1106.55	1147.62	1189.43	1231.94	1275.14	1319.01
230000	1032.80	1073.34	1114.69	1156.85	1199.79	1243.49	1287.93	1333.10	1378.97
240000	1077.71	1120.01	1163.16	1207.15	1251.95	1297.55	1343.93	1391.06	1438.92
250000	1122.61	1166.67	1211.62	1257.45	1304.12	1351.62	1399.93	1449.02	1498.88

---

Below is a table of  potential rate hike probability of increases for the NEAR FUTURE.

BOTTOM LINE… NOW is the time to pull the trigger!

There are lots of steps that go into purchasing a home.

The first step is finding a lender that you are comfortable with and going through the process to determine what your maximum approval amount is for a purchase price.  Buyers should take the time to “shop around” to insure you get the best rate and compare all other costs and fees associated with the loan.  The industry standard of borrowing for a home is no more than 28% of gross income and that’s assuming all debt services are under 36%.  A buyer can help reduce his/her costs by putting 20% down on a property which will eliminate private mortgage insurance.  PMI is insurance that protects the lender from non-payment.

A buyer’s pre-approval amount doesn’t necessarily mean that’s what you want to spend on a property. 

You need to consider your lifestyle and your comfort level.  Does the home you are purchasing need renovations?  Do you have college education ahead?  Do you enjoy vacationing with family?  When you purchase this home are you wanting all new furniture?  Are you planning for retirement?   Where is your comfort level with the loan amount?  As a real estate agent here in Branson MO, I know lots of new home owners want to purchase a boat and additional lake toys.  These questions need to be answered prior to finalizing your maximum loan amount.

Get Yourself A Buyer’s Advocate

It’s also key that you get a buyer’s advocate: a real estate professional who has knowledge of the area in which you are purchasing.  You want someone who will help you navigate the buying process.  They should be able to bring not just knowledge of the area, but listen to what your desires are for your new home and then be able to comb the inventory and produce homes that fit your criteria.

They need to be able to help you understand nuances of the area, for example: septic systems; wells; homeowners and condo association dues; boat slips, HOA’s, COA’s, state and county laws that might affect you.

The agent should have an extensive vendor list to help you during and after purchase; inspectors, roofers, handymen, plumbers, movers, gas companies, electric companies, churches and so much more.  This will help ease the buyer’s transition into a new community.

So choose wisely, interview, make sure your communication styles fit.  You will be spending a lot of time with your agent and you need to trust them to work on your behalf.

Our goal at Table Rock Realty Group is to treat our client’s home as if it was our own.  We know that if we do that, we have provided a higher level of service.

 

Author: Sharol Nuckolls, REALTOR©

Table Rock Realty Group is Different by Design, offering a superior level of knowledge, expertise and complete Concierge Real Estate Services.  We also have a dedicated office manager to best serve our clients.  Call us today if you are looking for property in the Branson, MO or Table Rock Lake areas – or if you just have questions about real estate.  We can even help you find a quality REALTOR© in another community.

Call Sharol Nuckolls @ 417.593.2010 or Liz Chun @ 240.344.4582 today!  You’re invited to search our website @ TableRockRealtyGroup. com or follow us on Facebook or find us on Pinterest, Twitter, Instagram, & Google+.   We look forward to helping you navigate your real estate journey!

 

 

 

 

Branson European Estates of D’Monaco Villas

Nothing short of amazing, the spectacular views from the Estates of D’Monaco villas, will quiet your spirit These luxury properties are nestled in the scenic Ozark Mountains, with panoramic views of Table Rock Lake from each villa and 15 minutes from Branson’s shopping, dining & entertainment.

Table Rock Lake & close to Branson and all it has to offer

There is quality construction throughout the luxury complex, from all steel and concrete construction, soaring coffered ceilings, elevator for convenience, gated w/ security, decorator finishes throughout & professionally landscaped.

Each Villa has a distinctive floor plan with expansive private verandas, travertine tile, walk-in showers and gourmet kitchens. There are six villas to choose from each are uniquely different.

The Marseille, Valencia, St. Tropez are your 3 three bedroom 3 bath villas and The Catalina, Milan, Bordeaux are your two bedroom two bath options.

All bedrooms are master suites with en-suite bathrooms, The luxury is at every turn from the high-end finishes, stained concrete flooring in great room, wood burning fireplaces, wall of windows in each villa brings you up close and personal to Table Rock Lake. Evening parties by candle light will be a must, but will spill out onto the veranda to take in the beautiful surroundings

Ready for new owners dreams!

The penthouse villa is a the crown jewel of the property with over 3,200 square feet, offering 270 degree views of Table Rock Lake , it is a blank canvas ready for the new owners to personalize and comes with a build out allowance.

Business with a view

Welcome!

You will want to share this experience with your family and friends; the amenities for owners include a wonderful pool area with Tiki bar, a conference room, lounge area and community dock, lake shore access, private beach area, hot tub, & fire pit. This luxury property is steps from the water, so close you could reach out and almost touch it.

Table Rock Lake living is incredible and living at D’Monaco is a luxury experience that will forever change you and your guest. Follow your dreams and call D’Monaco Villas home.

 

Table Rock Lake steps away

 D’Monaco Villas Video Tour

If you are interested in D’Monaco Villas or any other property on Table Rock Lake in the Branson area call  417-593-2010 or search my website at Table Rock Realty Group.com

Branson Lake Front Home- Special Lake, Wonderful neighborhood and a Great House to make memories in

Table Rock Lake walk to the waters edge

Branson area home with great deck in Twin Island Estates

What makes the Branson area so special is the people and the community and this wonderful lake front home is a perfect example. The subdivision of Twin Island Estates offers it’s residence lots of opportunity to “meet” your neighbors and to enjoy all that makes this area special. The lake front home is steps from Table Rock Lake and the boat launch and docks below. It has recently had significant updates throughout the house.

The kitchen has custom hickory cabinets, granite counter tops, stainless steel appliances and marble floors with a breakfast nook. The upper & main level living is hardwoods except where there is tile. If you walk into the family room you will be drawn to the sliding glass doors where you can enjoy the view of the lake or step out onto the deck to relax after a long day of fishing, hiking, or lake fun. The dining room is open to the family area w/ a gas fireplace for cold winter nights.

Guests will line up to visit & you’ll have options there are two guest bedrooms upstairs with a full bathroom that has been renovated. The master suite is oversize with not two but three closets and for convenience a utility room and an en-suite bathroom. The party may spill down to the basement where you have a full kitchen with bar. Movie night or extra bunk room this home gives you options. The lower level also has a utility room & full bathroom for guests and a walkout patio area.

Family & Friends will enjoy all the activities

If you have hobbies or lake toys this home is for you, an oversize two car garage with storage and a John Deere room for golf cart, lawn equipment or additional storage.

The community amenities are vast; several parks with picnic areas, shuffle board, Community Center for meetings & events, adult & kid pool where you shouldn’t be surprised to see water aerobics, library for residence and much more. This is a total package and a wonderful place to live and call home.

Guest will enjoy the opportunity to spend time on the lake, this home comes with the opportunity to purchase a boat slip around the corner. Table Rock Lake was just named one of the top 10 Lakes for Family entertainment.  If lake fun isn’t enough lots of entertainment is within twenty minutes of Branson, where you can shop till you drop, over 100 different theatres to choose from, great dining and parks like Silver Dollar City and Shepard of the Hills or if shopping is your thing; try the Branson Landing or Tanger Outlets and that’s just to get your started.

If you are looking for a great place to live and a great house, Call Sharol Nuckolls @ 417-593-2010 or search for homes @ TableRockRealtyGroup.com or follow me on Facebook or Google+ or Twitter @ mammanuck

Author:  Sharol Nuckolls

Name(required)

Email(required)

Website

Comment(required)

Submit

Δ