Brevard North Carolina Real Estate Blog: Rate vs Price - Which is the better deal?

Rate vs Price - Which is the better deal?

Which is the better deal for a buyer? A $10,000 price reduction or a full price purchase with a lower interest rate?  At first glance, a lot of buyers would jump at the price reduction. But that's not always the best choice if you are buying a home that you plan to live in for awhile.

Consider this home for sale in Brevard, North Carolina.  In this scenario, a buyer could pay full price for the home and still save nearly $45,000 more than if they bought it after a $10,000 price reduction. It's possible with a simple seller credit at closing that reduces the buyer's loan rate. In the case of this home at 5 Crestview Drive, Brevard NC, a buyer would save $123.84 a month on their mortgage payment or $44,582 over the course of a typical 30-year loan.

For information about this or other properties for sale in the Brevard NC area, contact the Clay Team today! Or, visit us online at BrevardNCProperty.com.

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For more information about buying or selling homes or land in the Brevard, NC area, contact the Clay Team today at BrevardNCProperty.com!

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Comment balloon 0 commentsCarol Clay • November 05 2009 10:05AM

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