A Little Bit of Luck and A Lot of MathPosted by Ariel Christy on
Buying a house right now is not easy, there is no way to sugar coat that, but with a little bit of luck and a lot of math now is still a great time for many buyers to purchase. While many people will say sellers have the advantage in the market today, buyers today have a clear advantage over buyers who wait.
First let’s talk about the math. I will use the interest rates from MSHDA (MI State Housing Development Authority) as their rates do not fluctuate daily for a conventional down payment assistance loan. As of March 24, 2022, the fixed rate for this loan was 4.625%. According to the Greater Regional Alliance of Realtors (GRAR), the average sale price of a home in the city of Grand Rapids was $245,188.00 in February 2022. For round numbers we’ll…
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