Veronica Dagher
speaker
3,082 appearances
51 recordings
1 series
first heard Sep 2017
last heard Jan 2025
Veronica Dagher’s voice in public audio — every appearance, attributed to the second.
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Appearances
You marry the house, but you date the rate.
What that means is you're going to buy the house at a set price and you commit to the mortgage rate once you close on that house.
But.
Often it's very possible to refinance that mortgage and ideally get a lower rate.
And so you need to think about your timing in relation to all these other factors that can influence how much house you can afford.
See what your payments might be, right?
So if you see this headline 7%, oh, I could never afford a house at a 7% interest rate.
I'm waiting for it to come down to 6%.
You need to do the math.
Looking at a $440,000 home with a 20% down payment,
7% mortgage rate, you'd have a monthly payment of about $2,300.
A 6% mortgage rate, you could save about $200 a month.
Is it possible within your budget, do you have $200 a month that would allow you to take that 7% mortgage rate?
Maybe you can cut expenses otherwise.
Maybe you don't need as many subscriptions.
Maybe you don't have to go out to dinner so much.
Maybe there's a way you can come up with that $200.
Obviously, you want to make
Sure, this fits in your overall budget and your financial picture because the last thing you want to do is get overextended on a house that you can't afford.
But sometimes people say they hear the headline and they don't think about what is actually behind that and what the monthly payment is.
Showing 881–900 of 3,082 · page 45 of 155
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