Buy - Mortgage and Finance

In this category of our Complete Southwest Oho Real Estate Blog we post articles to answer questions like "How Much Money do I Need to Buy a Home?" or "What is earnest money?" and "What is the best home loan for me?"  Visit our Buying Page full of home buyer resources for southern Ohio real estate and Cincinnati Metro Area homes for sale. Bookmark us so you can find us easily and browse homes in Hot Communities or use our property search. Check out our reviews and see why you want to work with us.

Found 38 blog entries about Buy - Mortgage and Finance.

Equifax Hack Could Affect Monroe Mortgage Applicants

When news of the Equifax hack first broke, the credit ratings giant scrambled to minimize fallout from this massive personal information breach. After an initial embarrassing misstep (they tried to have affected consumers sign off on Equifax’s liability), the company moved to ameliorate the hack by offering free ID protection to consumers.

equifax hacked

Monroe homeowners and potential home buyers had reason to do more than shake their heads at yet another electronic pratfall. In one way or another, most Monroe real estate transactions involve creditworthiness appraisals that are managed by the three credit reporting agencies (Equifax is one). That means that among the 143 million consumers it admits could

397 Views, 0 Comments

Cincinnati Mortgage Rate Jitters Needn’t Spur Hasty Decisions

Mortgage rates in Cincinnati remained mostly steady this past month, at least partially due to the predictable July-August doldrum effect. When the summertime vacation schedules of Washington and Manhattan movers and shakers presages a slowdown in activity and economic reports, there is simply less going on that might affect the rate meter—in either direction.

cincinnati mortgage
Summertime can also mark the beginning of a nationwide tapering off of real estate’s peak selling season. With the added factor of mortgage rates in (town) looking as if they will remain invitingly low for the near future, fear of a sudden rate rise is ebbing as well. It’s the kind of apprehension that can spur some buyers

1,897 Views, 1 Comment

West Chester Renters, a Brand New Tesla (in 5 Years)? 

My 5-year Tesla Plan is fanciful, but based on what could be the situation some West Chester renters can probably relate to.

The imaginary 5-year Tesla Plan participant could be any gainfully employed West Chester renter who has been living comfortably in a nice rental for the past few years. It’s either a comfortable home or a nice apartment: that doesn’t matter. But - buying a home for sale in West Chester, Ohio instead of renting may just make that new Tesla affordable; crazy math?

west chester homes for lease

Homes for Sale in West Chester, Ohio

What’s important is that the average monthly rent has been rising. It’s now $1,570. This is now gobbling up just about every spare dollar of the West Chester renter’s

1,369 Views, 3 Comments

Some West Chester Luxury Homes Might Not be Out of Reach

The content the National Association of REALTORS® publishes is usually staid and non-controversial. After all, what they put out there has to ring true for the real estate industry in every nook and cranny of the country: in communities large and small, coast to coast—from Podunk to Peoria, Manhattan to West Chester. Real estate is, after all, the most massive industry in the country, so you’d expect the Association that represents its professionals to be hyper-cautious in its pronouncements.

custom luxury homes for sale west chester oh

7 prudent cautions and considerations for buying luxury homes

So it was eye-widening to come across an article in the REALTOR website that was a how-to on buying a luxury home without having to pay

1,876 Views, 2 Comments

Week of Mortgage Rate Speculation Ends on High Note

Last week there was another interest rate development—though it was a slightly whipsawed kind of development. Since mortgage interest rates are so important to the bottom line in all but all-cash Mason residential home sales, the direction rates are headed is something worth watching closely.

mason ohio mortgage rates

Last Wednesday was one of those days that come about twice a year. It was the occasion when the Federal Reserve Chairman is called upon to testify before Congress. The date is set as a biannual marker for revealing what’s likely to lie ahead for interest rates. If the Fed is going to decide to raise the Fed Funds rate, it’s usually the single strongest pointer to higher mortgage interest rates. All things

440 Views, 2 Comments

Student Loans: Less of a Mortgage Obstacle than Thought

All of a sudden last month our Mason, Ohio and Cincinnati-area readers might have come across a number of new articles dealing with the same topic: the problem young first time home buyers are encountering due to outstanding student loans. The target group is the millennials—everyone born between the early 1980s and 2000s. If you are one of them, you are frequently reminded that there are millions and millions of you out there. And millions who also share the same student loan problem.

student loan debt home loans

There are conflicting accounts of the precise size of the issue, but it seems that the average college graduate now carries somewhere between $30,000 - $50,000 in debt upon graduation. The Federal Reserve

2,030 Views, 1 Comment

Mason, Ohio Home Loan Applicants May See Credit Boost

For a few Mason mortgage applicants, next week may see a one-time favorable change in how they are viewed by home loan lending institutions. It’s a technical change that could amount to a significant difference in the results they get when they apply for Mason home loans.

mason ohio homes credit score boost

 See all current Mason, Ohio homes for sale

The first evidence of what the Washington Post calls “a surprise boost” will be triggered on Saturday, which marks the July 1 beginning of a changeover in the information gathered by the three national credit bureaus. Equifax, Experian, and TransUnion have been working with a number of states to handle an awkward technical problem: many states have outmoded computer reporting

1,777 Views, 1 Comment

What if my House Doesn't Appraise?

Hello, been a while since I've posted anything, but a situation came up where the common question "what if my house doesn't appraise high enough?" came up for both the seller and the buyer.

Dang it - the real estate appraisal was shy of where all parties needed it to be to move forward with purchase and sale. What can be done about it?

what if my house doesn't appraise

Now, my business partner, Marty Snyder, the top Ohio Realtor in our area is marvelous at challenging appraisals. He runs proper comps and his fastidious but friendly nature and appraisal challenge strategy usually wins appraisers over. Nearly 100% successful, this instance was not. As it turns out, the situation was one we've come across for the very first time.

Here's a

1,456 Views, 2 Comments

Rent or Buy a House - Busting 4 Common Myths

According to a recent ​report​ by Harvard University’s Joint Center for Housing Studies, the past 15 years have seen a drastic shift in how Americans approach renting and owning with many questioning whether to rent or buy a house.

More people are renting, while fewer are buying houses. In fact, the average annual growth number for renters is now approaching the peak number for ​home buying reached in 2006, just before the housing market crash. 

rent or buy a house

The reasons for such explosive rental growth are numerous: lingering effects from the economic collapse in 2008, the revitalization of many urban cores, Baby Boomers aging out of their houses, and high rates of student loan debt among Millennials.

Should

3,568 Views, 1 Comment

Making Real Estate Offers Explained

Hello readers and followers, back today to talk about what goes into making real estate offers but simplified and thought I'd throw in some other tips and links for home buyers to check out.

Think of making a real estate offer like a relationship. The first step is getting ready to propose and then the proposal itself and hope your offer is accepted.

real estate offers

On that note, getting ready for the proposal requires some due diligence. Here are some handy articles all home buyers should read before making real estate offers:

fico score vs credit score debt-to-income-ratio, the magic number

For making real estate offers, Realtors use a variety of similar forms and they vary from MLS territory to MLS territory and

1,541 Views, 0 Comments