Let's Talk About Your Monthly Payment

Let's Talk About Your Monthly Payment

  • Taya DiCarlo
  • 04/9/22


You're in the middle of a bidding war and you are stepping up. You know exactly what it takes. You need to come up a hundred thousand dollars; that's a lot of money.

No, it's not. It's actually not real money. Let’s dive into it.

Listen that a hundred grand is not real money. The money that it’s actually going to take to win that bidding war is not a hundred thousand dollars. What I want you to worry about is your monthly payment. You are not going to be living there for 30 years; you're probably going to live there for seven to 10 years. That money that you're going to use to actually come up to win that bidding war is a fraction of the hundred grand.

Before you pump the brakes and you get really scared, talk to your loan officer and ask them how coming up a hundred thousand dollars in the purchase price is that going to affect your down payment, the closing cost and the monthly payment.

If your mortgage broker lets you know that you are still in the range of affordability then you can do what it takes to get that house lock in that low interest rate, lock in that low monthly mortgage payment and win.

I am telling you right now in the years to come, when interest rates go up and money is more expensive to borrow, your monthly payment will be more. Take advantage of what's going on right now with these low interest rates. When you find yourself in a bidding war, make sure you're fully informed and ready to step up to do what it takes.

If you disagree with me, and you want to know if this money was real, you want to engage in a conversation, let’s talk.

Don’t forget to catch up on my weekly show, Taya’s 2 Cents, where share my two cents on different real estate topics from buying and selling real estate, owning a home and more.

Work With Taya

Taya is a California native with 12 years of real estate experience and has sold over $145M in residential sales. She repeatedly goes above and beyond the call of duty to ensure deadlines are made and that all transitions go smoothly. Whether you’re selling or buying, Taya is the kind of Realtor® you can always depend on.

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