Homebuyers are facing a tight home supply and near-record market activity, but mortgage rates continue to hover near historic lows. By combining low interest rates with a good down payment, many savvy buyers across Western North Carolina are finding that their mortgage payments are lower than they would have thought.
Many factors go into your monthly mortgage payment, including the price of the home, the interest rate you can secure with your collateral and credit score, and any down payment monies you have available. Without getting too complicated, can you guess which mortgage payment matches each buyer scenario?
Guess the mortgage payment for each of these popular homes below. Then, discover how much home you can afford with the Beverly-Hanks Mortgage Calculators.
Guess the Mortgage: PRICE: $385,000 | DOWN PAYMENT: $15,000 | INTEREST RATE: 4.500%
77 Boardwalk Lane in Waynesville: Three-bedroom, three-bath home located minutes from historic Waynesville. Detail abounds in this beautiful custom home with vaulted ceilings, hardwood floors, and custom kitchen with large center island and all stainless steel appliances. MLS# 3331502
Guess the Mortgage: PRICE: $400,000 | DOWN PAYMENT: $45,000 | INTEREST RATE: 4.125%
139 Linden Street in Arden: Brand new construction convenient to both Asheville and Hendersonville. This energy-efficient home has high-end finishes: granite and soapstone counter tops, 5” oak floors, solid wood doors, on-demand water heater, and KitchenAid appliances. MLS# 3291662
Guess the Mortgage: PRICE: $335,000 | DOWN PAYMENT: $20,000 | INTEREST RATE: 3.875%
76 Eastern Sky Drive in Canton: Adorable Cape Cod with an oversized garage and mountain views, minutes from downtown Waynesville and Canton. This home is clean with deep, walk-in closets in every bedroom and gleaming wood floors throughout. MLS# 3328157
Guess the Mortgage: PRICE: $340,000 | DOWN PAYMENT: $0 | INTEREST RATE: 4.000%
534 Larkin Lane in Spruce Pine: Gorgeous mountain retreat where every day feels like a vacation. From the vaulted great room or sleeping porch, watch the birds fly beneath you and spend nights by the stone fireplace gazing on the lights of Spruce Pine. MLS# 3329620
Guess the Mortgage: PRICE: $220,000 | DOWN PAYMENT: $20,000 | INTEREST RATE: 4.325%
70 Frisbee Street in Hot Springs: Enjoy a very peaceful, quiet setting in beautiful Hot Springs with mountain views and fresh air. Hardwood floors under the carpet in the entire three-bedroom, two-bath home in walking distance to town. MLS# 3331048
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