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VERBOSITY
PURCHASING POWER UP 11%
SINCE LAST YEAR
"It's a great time to be a buyer.
Assuming a principal + interest
mortgage payment of $1,000
per month on a 30-year term,
today's homebuyers can buy 11
percent 'more home' as compared
to 12 months ago. That extra 11
percent can mean . . . an extra
bathroom, an extra bedroom, a
series of upgraded finishes. There
has never been a more affordable
time to be a homeowner. From
Washington state to Washington,
D.C., homeownership is on sale."
» July 2011: Each $1,000 payment affords a
maximum loan size of $197,130
» July 2012: Each $1,000 payment affords a
maximum loan size of $219,409
Source: Dan Green, loan officer and author of The Mortgage
Reports Daily blog at TheMortgageReports.com
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