Get An Ultra-competitive Rate On This Beautiful Warsaw, Indiana Home!

October 2, 2023

Get An Ultra-competitive Rate On This Beautiful Warsaw, Indiana Home!

Get An Ultra-competitive Rate On This Beautiful Warsaw, Indiana Home!

Although inflation keeps surprising the “experts”, you’d be surprised how low a rate you could get on this home, along with a small down payment

The latest inflation report came in at 3.7% , surprising everyone who expected 3.2%. As a result, mortgage rates have risen to the highest level in 23 years, and buyer demand continues to shrink. New home sales dropped 9% in August as the impact of The Fed’s rate hikes continues to take effect. But there are still good home buying opportunities, especially in Warsaw, Indiana.

Take this single family home for sale for $384,900 at

500 Rutter St
Warsaw, IN 46580

This beautiful home boasts five bedrooms, four baths, a brick fireplace, and a beautiful remodeled kitchen. Complete with almost 2,900 sq ft of living space, a pool, and backyard deck, this home is perfect for entertaining, a large family, or a couple planning on having one.

What Would It Cost You Per Month?

Let’s run a simple scenario to see if you could afford this home.

$384,900 Purchase price
$19,245    Down payment
$365,655 Loan amount

$2,425/mo Principal & Interest payment per Zillow
$200/mo    Homeowners insurance estimate
$225/mo    Property taxes estimate
= $2,850    Total monthly payment estimate

$90,000/yr Homebuyer income
= $3,750     Qualifying income

Qualifying income: The total mortgage payment along with all other credit reported payments such as car loans, credit cards, student loans, cannot be higher than $3,750.

$500/mo     Credit card payment
$350/mo     Car payment
= $850/mo

$2,850        Total monthly payment estimate
+ $850        Credit card & Car payment
= $3,700     Total

Based on this scenario, you would qualify to buy this home, and you would still have $3,750 left over each month before taxes.

Much Ado About Rates

A lot of home buyers are hesitant to buy a home when rates are higher than they were a year ago. However, this is wrong-think and is costing you a lot of money. If you are renting, you are throwing money away each month that could be going towards building equity in your own home. If you are paying $2,000/mo renting and are waiting for rates to drop before you buy a home, you’re still wasting money each month. If rates dropped a whopping 3% on a $350,000 home loan, that would lower the monthly payment $674/mo. However, if you’re paying $2,000/mo in rent, you’re still wasting $1,326 every month.

High IQ buyers don’t wait for rates to drop when buying a home. They simply find the best rate they can, at the time of buying, then refinance when rates drop in the future. The key to long-term wealth building is to accumulate equity in your home as fast as possible. If you were to wait for three years until rates dropped, you’d waste almost $50,000 on renting that could have gone towards your own home equity.

Just as the key to retiring is to save as much as you can as early as you can, the key to homeownership that benefits you later in life when you really need it, is to buy as early in life as you can. Thirty years goes by in a flash; and, at the end of it, you’ll be thankful you bought your home early rather than waiting for the perfect opportunity to do so.

Lake City Water-skiers

If you’re from the area, you probably know about the The Lake City Skiers Water Ski Show Team. As Indiana’s only competitive water ski show, the Lake City Skiers puts on free water ski shows to the local community at Hidden Lake. Launched in 1989, this fun nonprofit organization is located on the southwest corner of US 30 and Indiana 15, and has won the DivII champions in 2006, 2007, 2014, and 2016.


With themed productions including music, costumes, and an announcer guiding the audience through the action, spectators are entertained with extreme jumps, an all-girl ballet line, barefoot skiing, swivel skiing, doubles routines, wakeboarding, and human pyramids. Lasting about an hour, the Lake City Skiers have received numerous awards in promoting their mission of teaching and promoting safe boating and water skiing to everyone.


Join transplants from all over and enjoy the unique opportunities that Warsaw, Kosciusko County has to offer. To learn more about what to expect as a homebuyer in Kosciusko County, visit the Bee Mortgage video page. Each video is dedicated to a topic of interest for today’s home buyers, such as when to buy, what net assets you will need, and how to quickly qualify for an Indiana mortgage. If you need to speak to a human, you can call or text us direct at 855-626-1999.

Fill out the form below to contact us or call us at 904-316-5566 .

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