If you move to a town where taxes are: • $18k per year • That is $1,500 per month
You now have 1,000 dollars of monthly breathing room.
Depending on rates and loan products, that 1,000 dollars might translate into an extra: • $150k to $200k in buying power
Or it might simply mean: • Lower monthly payments • Less financial stress • More ability to save or invest
A Text Based Chart to Visualize Buying Power Please Note: These numbers are approximate. They depend on many factors including your credit score, interest rate, lender, loan type, debt to income ratio, and down payment. Additional Buying Power Approx. ----------------------------------------------------------------------- $400 $60,000 to $72,000 $600 $90,000 to $110,000 $800 $120,000 to $150,000 $1,000 $150,000 to $190,000 $1,200 $175,000 to $220,000 $1,500 $225,000 to $275,000 Monthly Savings This is one of the most powerful concepts in New Jersey real estate because it means you may not have to compromise on your lifestyle or your dream neighborhood. You may be able to get both.
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