When is the best time of the year to buy a home? And what about the worst? From a pricing perspective the spring is the worst time of year to buy a home, unfortunately it is also the best time of year when it comes to the number of homes a buyer will have to choose from. Market activity […]
Preparing to buy a home? We encourage buyers to ask prospective lenders these 10 important questions at or prior to mortgage application. (1) What are your qualifying guidelines? Ask about requirements relating to your income, employment, assets, liabilities and credit history. Qualifications for 1st-time homebuyer programs, Veterans Affairs loans and other government-sponsored mortgages are typically less stringent. […]
Many factors affect the life expectancy of housing components and need to be considered when making replacement decisions, including the quality of the components, the quality of their installation, their level of maintenance, weather and climatic conditions, and intensity of their use. Some components remain functional but become obsolete because of changing styles and tastes […]
For many people, buying their first home is a rite of passage and ownership is part of the American dream. And while many excited hours are spent planning interior color schemes, choosing new furniture and dreaming of moving day, many first-time buyers spend equal amounts of time fretting the home buying process. Let’s face it, if […]
Congratulations Bride and/or Groom To Be! If you’re planning to get married and buy a home in Central Ohio, but wonder where your down payment funds will come from… FHA might have a solution for you! FHA has a Bridal Registry program that allows the money you receive as a wedding gift to be used towards […]
So you’ve made a decision to buy a home and intend to apply for a mortgage to fund your purchase. From now until you close, there are a number of simple, yet important mistakes you want to be sure to avoid. Even if you have good credit, there are things you can do to make lenders think […]
In recent years FHA loans have taken on renewed importance for today’s mortgage borrowers. Simply stated, an FHA loan is a mortgage insured by the Federal Housing Administration, a government agency within the U.S. Department of Housing and Urban Development. Borrowers with FHA loans pay for mortgage insurance, which protects the lender from a loss if […]
An earnest money deposit is a specific form of security deposit made in real estate transactions to demonstrate that the applicant is serious and willing to demonstrate an earnest of good faith about wanting to complete the transaction. Earnest money deposits are one of the most misunderstood parts of the home-buying process. Depending on where you live, you can expect to […]
A new program allows employers to help workers’ down payment on a home, similar to how companies contribute to a 401(k). HomeFundMe, a Fannie Mae and Freddie Mac-approved down payment crowdfunding platform, allows borrowers to crowdfund their down payment from several sources, including their employer. CMG Financial, a mortgage banking firm, created the HomeFundMe program. Employers can […]
When you buying a home, your first mortgage payment is due on the first day of the month after the first full month that you’ve owned the home. For example, if you close the sale of your new home on January 25, the first full month you spend in the home will be February, so your […]
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