The home buyer illustrated above went to a local bank referred by their real estate agent. The bank charged a .375% higher interest rate than the best rate which could have been found on the
Virtual Loan Shopper.
Let's see what could have happened had the home buyer financed the property with the lower rate available on the Virtual Loan Shopper.
The home buyer could have taken $63.23 payment savings and put it into an investment account each month. If this savings account averaged 5% interest yield, and it was allowed accrue interest for 30 years, The home buyer would have had an extra
$52,842.98!
Had the home buyer invested the $7,155 potential closing cost and discounted services savings at the same 5% interest yield, at the end of 30 years, this savings account would be worth $31,966.71!
