Team Stanley Real Estate has been presenting first time home buyer seminars and presenting the benefits of the $8000 tax credit to our buyers in an effort to get them to realize that there has never been a better time to buy a home than now!  While the $8000 is certainly an attractive reason to buy now, it is simply the icing on the real cake being offered now.

While the $8000 is an immediate benefit to first time home buyers, the real benefit is in the interest rate for a 30 year mortgage, and you don't have to be a first time home buyer to get this benefit.  Everyone can benefit.

Do the math!  This week we closed a young couple on a $150,000 home with a 4.75% interest rate,  and wow, it hit me like a lead balloon.  I thought my personal home had a great rate of 6.5%  but then look at these numbers.

$150,000 for 30 years, at 7% = Monthly payments for Principal, and Interest = $997.95 per month

$150,000 for 30 years, at 6% = Monthly payments for Principal, and Interest = $899.33per month

$150,000 for 30 years, at 4.75% = Monthly payments for Principal, and Interest = $782.47 per month

Now that is a monthly savings of $215 and a annual savings of $2,586 and a 30 year savings of $77,572

Not to mention payments are cheaper than rent, interest is deductible and taxes are deductible.

Now go to the last step, assuming 20% tax bracket  and 4.5%, that equals additional savings of $9000 per year just for interest deduction and about $2000 per year for tax deduction or a total annual savings over renting of $2200 a year and $66,000 over 30 years in tax savings with which you could be buy an annuity and have a additional $185,000 or more for retirement.

Now if your not a first time home buyer and you buy a $300,000 home, double the numbers.

Now if you got it, call  or e-mail Team Stanley, lets find your home and get you started to life time savings.

Team Stanley

Pete 972-921-2047   pete@elliscountymoves.com

Mary 972-935-3991 mary@elliscountymoves.com