May 1st, 2023 10:12 AM by Ken Morley
I've always encouraged people to get at least three different lender quotes before making a decision. I thought it might be helpful to do a comparison between a loan for $400,000 for 30 years with a rate of 6.250% and then the same loan at a rate of 6.375%. The payment increase going from 6.250% to 6.375% is $32.61 per month. Depending on your circumstances that might not seem too bad but if you look over the life of the loan that equates to $11,739.45 in additional interest---WOW! A lower rate and lower payment will be beneficial in most cases but especially for the First Time Homebuyer. We work with most all Real Estate Agents here in Colorado. So do your research and let us give you a quote by calling (303) 650-9400 or clicking on "Quick Quote" from our home page. I've got a feeling you'll be glad you did!