1 10 rule applies buying power

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1-10 RULE Buying Power (Mortgage Amount) Changes When Interest Rate Changes Interest Rates Goes Up = Buying Power Goes Down Interest Rate Goes Down = Buying Power Goes Up Interest Rate Change In Increments of 1% Payment* Mortgage Mortgage Mortgage Mortgage Amount Amount Amount Amount (Principal & Interest Only) at 3.5% at 4.5% at 5.5% at 6.5% $507

$126,936

$100,000

$89,239

$80,164

$760

$169,240

$150,000

$133,858

$120,245

$1,013

$225,590

$200,000

$178,477

$160,326

$1,267

$282,155

$250,000

$223,095

$200,407

*Payment is rounded to nearest dollar and based on a 30year fixed rate mortgage. CopyrightŠ Karen Schlosser December 2013


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