There are many things to consider when it comes to buying a home, and a lot of Santa Clarita Valley residents are conflicted on whether or not this is the right time to buy a home.

On the latest episode of the National Real Estate Cafe, hosts Don Goettling and Gino Fronti talk about the benefits in buying a home now, over waiting. They break down the costs and say, “Why not now?”

National home prices have increased 6.7% year after year. Over that same time period, interest rates have remained historically low, allowing many new buyers to enter the market.

“As a home buyer, you must not be concerned about price,” said Don, “ but instead about long-term cost of the home.”

Don and Gino give an example of buying a home today or waiting one year.

If home prices appreciate by 5.2%, which is what is predicted, that increase in interest rates will affect you more than you might think.

If you were to buy a house today with an interest rate at 4.5% (APR 4.657%) on a mortgage of 500,000 your payment each month would be about $2533.43 principal & Interest payment.

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If you wait one year and buy a home in 2019, that same house would cost about $526.000 with a 5.10% (APR 5.205%) interest rate and your monthly payment would be $2,855.92  principal & Interest payment. These $322.49 monthly costs are not the only waste of money, as a homeowner with a 30 year mortgage you are losing $3,869 annually and $116,096 over the life of the loan.

“Go to a well respected, direct lender,” said Don. “You can get that home today.”

If you want to stay in the know when it comes to real estate and finances, tune into their radio show every Saturday at 9 AM on KHTS FM 98.1 & AM 1220, or visit there website here.

For over five years now, Don & Gino, through the nationally recognized Real Estate Radio Network, created “The Don & Gino Real Estate & Finance Show” to refresh conversations about the real estate and financial markets today.

“The Don and Gino Real Estate & Finance Show” gives the public access to the very best real estate agents, CPA’s, bankruptcy attorneys, estate and financial planners and more incredible experts.

To contact Don & Gino directly, email them at donandgino@gmail.com or call them directly at (855) DON-GINO, they will be glad you did.

Skyline Home Loans is not affiliated with KHTS. Each is solely responsible for the products and services it offers. ©2018 A division of Finance of America Mortgage LLC | Equal Housing Opportunity | NMLS ID #1071 | (www.nmlsconsumeraccess.org) | 300 Welsh Road, Building 5, Horsham, PA 19044 | (800) 355-5626 |Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act |AZ Mortgage Banker License #0910184.

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