Jackie BulavaDraper & Kramer Mortgage Corp.Mortgage [email protected] #200560Office: 708.383.2280224 S Marion StOak Park, IL 60302
David BulavaThe Dave Bulava Group at Keller Williams Premiere Properties
License #475.148803Office: 630.529.0022
45 S Park BlvdSuite 300
Glen Ellyn, IL 60137https://www.davebulava.com
6305290022
DuPage County, IL
Cost of Waiting on 5% down $300,000 ($300,000)
Loan Today(5% down)
Waiting 6 months Waiting 1 year Waiting 2 years Waiting 3 years
Property Value $300,000 $303,341 $306,720 $318,283 $331,683
Loan Amount $285,000 $288,174 $291,384 $302,369 $315,099
Down Payment $15,000 $15,167 $15,336 $15,914 $16,584
Rate 4.125% 4.625% 4.625% 4.875% 5.125%
APR % 4.591% 5.135% 5.145% 5.451% 5.760%
Mortgage Insurance $97 $98 $99 $103 $107
Total Cash to Close (with Points and Down Payment)
$18,745 $18,912 $19,081 $19,659 $20,329
Monthly Prin. & Interest (Start)
$1,381 $1,482 $1,498 $1,600 $1,716
Annual Prin. & Interest (Year 1)
$16,575 $17,779 $17,977 $19,202 $20,588
Total Monthly Expenses (PITI)
$2,111 $2,218 $2,242 $2,368 $2,511
Total Annual Expenses (PITI)
$25,329 $26,617 $26,899 $28,417 $30,137
1.11% 2.24% 6.09% 10.56%
(Forecast based on MBA Mortgage Rate & MBS Highway Home Value Projections)
How much will it cost you to wait 1, 2 or 3 years? These charts compare all of the costs and payments if you were to take out your loan today, versus 1, 2 and 3 years. The Property value changes are based on the MBS Highway forecasts for each county, but can be adjusted. The Interest Rate changes are based on the MBA forecasts, but can also be changed. The down payment amount assumes that you will want to keep the same LTV, so if the home price increases in the future, the down payment will increase accordingly.
Cost of Waiting Analysis(5% down)
Compared to 5% down Today Waiting 6 months Waiting 1 year Waiting 2 years Waiting 3 years
Loss of monthly cash flow $107 $131 $257 $401
Annual loss in cash flow $1,288 $1,570 $3,088 $4,808
Loss in Property Appreciation $3,341 $6,720 $18,283 $31,683
Amortization Lost $2,430 $4,911 $10,028 $15,361
Total Cost of Waiting $5,772 $11,631 $28,312 $47,044
Draper and Kramer Mortgage Corp. (IL:MB.0004263 NMLS:2551) an Illinois Residential Mortgage Licensee located at 1431 Opus Place, Suite 200, Downers Grove, IL 60515. Telephone 630-376-2100. (www.nmlsconsumeraccess.org). This is not an
offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar
amounts. Other restrictions and limitations apply, contact your Draper and Kramer Mortgage Corp. representative to learn more and find out if you qualify. © 2019 Draper and Kramer Mortgage Corp. All Rights Reserved.
Loan and monthly payment buying scenarios used for informational purposes only and does not reflect actual terms of loan offered. This document should not be construed as investment or mortgage advice or a commitment to lend. Your results may vary. There are no guarantees, promises, representations and/or assurances concerning the level of accuracy you may experience. For actual and current terms and rate information, please contact your lender directly. APR of 4.591% assumes a 4.125% simple fixed interest rate assuming $2,000 in fees included in APR. Monthly principal and interest payment based on a fully amortizing fixed interest loan of $285,000 with 360 monthly payments at the assumed simple interest rate.
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Losses from Appreciation and Amortization
0
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Total Cost Amort. Lost Appr. Lost
See how much more cash you will need to bring to the closing table in order to close 1, 2 and 3 years later. The cost increase assumes that you will want to keep the same LTV, so if the home price increases in the future, the down payment will increase accordingly.
Waiting 3 years $1,584 more required
Waiting 2 years $914 more required
Waiting 1 year $336 more required
Waiting 6 months $167 more required
Loss in Cashflow
Ad
dit
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onth
Monthly Annual
If the home you are looking to purchase appreciates and rates increase, you could be paying much more if you wait 1, 2 or 3 years. The chart below shows how much more, on a monthly and annual basis, you will have to pay.
Jackie BulavaDraper & Kramer Mortgage Corp.Mortgage [email protected] #200560Office: 708.383.2280224 S Marion StOak Park, IL 60302
David BulavaThe Dave Bulava Group at Keller Williams Premiere Properties
License #475.148803Office: 630.529.0022
45 S Park BlvdSuite 300
Glen Ellyn, IL 60137https://www.davebulava.com
6305290022
DuPage County, IL
Cost of Waiting on 20% down 300,000 ($300,000)
Loan Today(20% down)
Waiting 6 months Waiting 1 year Waiting 2 years Waiting 3 years
Property Value $300,000 $303,341 $306,720 $318,283 $331,683
Loan Amount $240,000 $242,673 $245,376 $254,626 $265,346
Down Payment $60,000 $60,668 $61,344 $63,657 $66,337
Rate 4.125% 4.625% 4.625% 4.875% 5.125%
APR % 4.306% 4.806% 4.804% 5.048% 5.291%
Total Cash to Close (with Points and Down Payment)
$63,745 $64,413 $65,089 $67,402 $70,082
Monthly Prin. & Interest (Start)
$1,163 $1,248 $1,262 $1,348 $1,445
Annual Prin. & Interest (Year 1)
$13,958 $14,972 $15,139 $16,170 $17,337
Total Monthly Expenses (PITI)
$1,796 $1,886 $1,906 $2,012 $2,134
Total Annual Expenses (PITI)
$21,548 $22,633 $22,872 $24,149 $25,602
1.11% 2.24% 6.09% 10.56%
(Forecast based on MBA Mortgage Rate & MBS Highway Home Value Projections)
How much will it cost you to wait 1, 2 or 3 years? These charts compare all of the costs and payments if you were to take out your loan today, versus 1, 2 and 3 years. The Property value changes are based on the MBS Highway forecasts for each county, but can be adjusted. The Interest Rate changes are based on the MBA forecasts, but can also be changed. The down payment amount assumes that you will want to keep the same LTV, so if the home price increases in the future, the down payment will increase accordingly.
Cost of Waiting Analysis(20% down)
Compared to 20% down Today Waiting 6 months Waiting 1 year Waiting 2 years Waiting 3 years
Loss of monthly cash flow $90 $110 $217 $338
Annual loss in cash flow $1,085 $1,324 $2,602 $4,054
Loss in Property Appreciation $3,341 $6,720 $18,283 $31,683
Amortization Lost $2,046 $4,136 $8,445 $12,935
Total Cost of Waiting $5,388 $10,856 $26,728 $44,618
Draper and Kramer Mortgage Corp. (IL:MB.0004263 NMLS:2551) an Illinois Residential Mortgage Licensee located at 1431 Opus Place, Suite 200, Downers Grove, IL 60515. Telephone 630-376-2100. (www.nmlsconsumeraccess.org). This is not an
offer to enter into an agreement. Not all customers will qualify. Information, rates, and programs are subject to change without prior notice. All products are subject to credit and property approval. Not all products are available in all states or for all dollar
amounts. Other restrictions and limitations apply, contact your Draper and Kramer Mortgage Corp. representative to learn more and find out if you qualify. © 2019 Draper and Kramer Mortgage Corp. All Rights Reserved.
Loan and monthly payment buying scenarios used for informational purposes only and does not reflect actual terms of loan offered. This document should not be construed as investment or mortgage advice or a commitment to lend. Your results may vary. There are no guarantees, promises, representations and/or assurances concerning the level of accuracy you may experience. For actual and current terms and rate information, please contact your lender directly. APR of 4.306% assumes a 4.125% simple fixed interest rate assuming $2,000 in fees included in APR. Monthly principal and interest payment based on a fully amortizing fixed interest loan of $240,000 with 360 monthly payments at the assumed simple interest rate.
Powered By MBS Highway
Losses from Appreciation and Amortization
0
10k
20k
30k
40k
50k
60k
70k
$ L
ost
to W
aiti
ng
Total Cost Amort. Lost Appr. Lost
See how much more cash you will need to bring to the closing table in order to close 1, 2 and 3 years later. The cost increase assumes that you will want to keep the same LTV, so if the home price increases in the future, the down payment will increase accordingly.
Waiting 3 years $6,337 more required
Waiting 2 years $3,657 more required
Waiting 1 year $1,344 more required
Waiting 6 months $668 more required
Loss in Cashflow
Ad
dit
iona
l $ p
er M
onth
Monthly Annual
If the home you are looking to purchase appreciates and rates increase, you could be paying much more if you wait 1, 2 or 3 years. The chart below shows how much more, on a monthly and annual basis, you will have to pay.
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