WHY BUY NOW?

The interest rate is beginning to crawl up again. It probably will rise slowly, but anyone who is thinking about buying should try to qualify for a mortgage loan now -- whild the rate is around 8%.

Many people don't realize that a rate change affects how much you can spend on the home.

LOOK WHAT HAPPENS WHEN THE RATE GOES UP!!!

Your annual gross income (before deductions)	How much can you borrow to buy a house? (calculated for 30-yr. FHA loan)			Monthly payment (P&I only)
	at 8%	at 10%	at 12%
$25,000................................	$70,900	$59,300	$50,600	$625
$35,000................................	$99,400	$83,100	$70,900	$875
$45,000................................	$127,800	$106,800	$91,100	$1,125

NOTE: Many variables affect the interest rate and the loan amount that you may be offered. To get the best rate from any mortgage lender, keep your credit clean and don't let your monthly payments on borrowed money ("consumer debt") exceed 12% of your gross monthly income.

DEBT SERIOUSLY REDUCES THE AMOUNT YOU CAN BORROW EVEN WHEN CREDIT IS GOOD AND INCOME IS HIGH