John Is Home Searching In A Tough Market

John is really looking forward to buying a home. However, interest rates have spiked and home affordability is at an all time low.

His First Offer

The first lender and real estate agent John worked with told him to use an adjustable rate mortgage.However, John didn't like the features of it and didn't feel comfortable using one.

John Chooses Mortgage Points

Instead, John asked how he could buy the interest rate down using mortgage points.His lender told him we could pay one point and drop his interest rate from 6.25% to 5.5%

John's Monthly Payment

John used FitBUX's mortgage point calculator and determined paying points would save him over $200 a month on his monthly payment and his break-even was 2.25 years.

John Got His House

John was able to close on the house.  He'll now keep an eye out on interest rates to see if he can refinance to a lower rate down the road.

Swipe up to check out this free mortgage point guide