rent vs. own… · rent 3% down 5% down 10% down 20% down purchase price n/a $500,000 $500,000...

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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 | LURAHOMES@GMAIL.COM | OPENHOUSERACHEL.COM

RACHEL LURA (508) 905-9442

LURAHOMES@GMAIL.COM 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 danv@fairwaymc.com

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

Newburyport, MA,01950

Molly Sterns LO Assistant - Licensed

NMLS:1836959 molly.sterns@fairwaymc.com

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