Buying Power

If you've done any research into buying a home you've probably come across the term "buying power". Simply put, "buying power" is your ability to maximize your money when purchasing a new home.

Interest rates greatly affect your buying power. Historically speaking, today's interest rates are extremely low. This means that the money you pay in order to
borrow money for your home is much less than it was in the past. With lower interest rates your monthly payment is lower and you can afford a more expensive home than you could before - thus your buying power has increased.

Interest rates are going to slowly rise and as they do it will erode some of your buying power. Now is the time to buy, before rates go higher!  You'll be able to afford more home than you thought possible while the interest rates remain low.  They won't be this low forever so don't miss this opportunity to maximize your buying power!