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Cost of Waiting to Buy

Cost of Waiting to Buy illustrates what can happen to the payment if while waiting for the price of the home to come down, the interest rate were to go up.

Script - “You may be right…if you did wait a while and the price of the home does come down 5% but during that time, the interest were to go up by one percent, you’ll pay $XX more each and every month for as long as you have that mortgage on the house even at the cheaper price.”