May 18, 2015 Posted by Matt

The amount you can afford for a new home may depend on the interest rate.  The difference in rates can have a significant impact on your purchasing decision.  Ultimately, the interest rate impact on your mortgage will vary based on market conditions and your credit score.

• Even a small increase in interest rates drastically impacts your budget.
• Securing a mortgage now while rates are still low means you can get more house for your money.
• Spend your money on your dream home, not on interest.

Be sure to compare interest rates before you purchase your home.  Often times a local community bank will be able to give you a better rate than a large national chain.