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9wild9 t1_iu9mi9e wrote

Reply to comment by Revan995 in Anyone who recently sold real estate in the Augusta area by Revan995

You won’t be getting 6.5% right now. Rates have risen like crazy the last 3 months.

Just be prepared for your mortgage payment to increase significantly if you try and buy/sell right now. Unless you’re selling a house for $400K and buying a new one for $200K or something.

The buy and sell combo worked pretty well during 2020/2021. Prices were high but interest rates were at historic lows so you could “upgrade” and come out even for the most part. But 2022 is a completely different ball game.

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GeeFLEXX t1_iua4q5i wrote

Jumbo loans with 35%+ down are 5.83% right now. Not great but certainly not 8%.

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9wild9 t1_iua642y wrote

So rich people? 😂

Not many “Mainers” are putting down 35% on a jumbo.

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mainlydank t1_iuazn65 wrote

anyones whos selling right now could feasibly do this, obviously no new home buyers can

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GeeFLEXX t1_iuaps4s wrote

With 20% down it’s 5.96%. That’s about $130K down for the cheapest jumbo loan, and many people selling their current house today will have that in equity.

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