Your Purchasing Power To Buy a Home in Clarksburg Village MD


What interest rates are you getting from your loan officer? 

“I don’t really know, I’ll have to check with him..” 

As I was speaking for the first time to a homebuyer that wanted to purchase a townhouse in Clarksburg Village.

He didn't know what interest rates he was being charge on his approval letter…

I would say that is a very significant number for home buyers to they should check it very careful.

These are the questions you should ask your loan officer...


What is the current mortgage interest rate?

This is important to know so you can compare it to the one you are being charged. 

What is a good interest rate on a home loan?

This is good to know and learn about the current market conditions so you can shop around for the best rates

What is the current interest rate for VA home loans?

If you have served on the military, you may want to shop for a VA loan instead of a conventional or FHA loan. You will have more benefits at a lower rate. 

Sometimes, buyer do not take advantage of this just because their loan officer does not service VA loans,...and they will try to discourage aware of this.

What is the average interest rate on a home loan?

You want to know that , if you have average credit score, you should get average interest rates..This is why you need to know all of these from a third party. Your real estate agent is the perfect professional that should review your approval letter and assist you with the very best interests rates based on your application.


These are the numbers that you should be aware of ...if you are buying a home in the next few months:

  • Mortgage interest rates today
  • 30 year fixed mortgage rates today
  • Mortgage interest rates forecast
  • Federal reserve interest rates today


The reality is that you must know these numbers to bring your purchasing power to the max


Now, let me talk to you about, 

The High Impact of Low Interest Rates On Your Purchasing Power 


According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 3.96%, which is still near record lows in comparison to recent history!

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows what impact rising interest rates would have if you planned to purchase a home within the national median price range, and planned to keep your principal and interest payments between $1,850-$1,900 a month.


With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.

Act now to get the most house for your hard-earned money.


Source.. KCM Fernando Herboso Blog


Hi, my name is Fernando Herboso and my focus is on taking the time to help you find the right home for you and your family

I am sincerely interested in my client's problems and my focus is to help them solve it..

I promise to take the time to understand who are you? 

What's important to you?, 

What are your goals objectives and preferences? 

Please call me at 240-426-5754 

or email me at