VIP Mortgage Group

🕎 Happy Hanukkah from all of us at VIP Mortgage Group 🕎

Same buyer, same house, higher price….and the payment goes UP after a better rate?

Buyers keep asking if they should wait for rates to drop before they buy.

Here is a simple way to explain the risk of waiting, using real numbers. 👇

Scenario A: Buy now
• Price: $400,000
• Down payment (5%): $20,000
• Loan: $380,000
• Rate: 6.25%
• Est. APR: 6.35%
• P&I: about $2,340 / month

Scenario B: Wait and prices rise
• Price jumps 3% to $412,000
• Down payment (5%): $20,600
• Loan: $391,400
• Rate: 6.00%
• Est. APR: 6.09%
• P&I: about $2,347 / month

Buyer waited for a “better” rate and still ended up with:
✅ A slightly higher payment
✅ More cash needed for down payment
✅ Higher closing costs

This is why I tell clients:
👉 “Do not chase headlines. Let’s chase a payment that actually fits your life.”

Waiting can cost more than you think!

All examples are for educational purposes only. Rates, APRs, and payments are estimates, not a commitment to lend. All loans are subject to credit, income, and property approval.