You want to buy your own home or perhaps you’re a move up buyer looking to climb the property ladder and purchase a larger home. But there’s just one problem: You don’t have the cash for a 20% down payment. What should you do? First, let’s assess your current situation: Are you a first-time homebuyer? Or […]
Adjustable Rate Mortgages (ARMs) With an adjustable rate mortgage, the interest rate and monthly payments varies according to a specific benchmark. The initial interest rate is usually fixed for a period of time after which it is reset periodically. The interest rate paid by the borrower will be based on the benchmark plus an additional spread, called an ARM […]
Think your property tax bill is too high? If so, it might be a good time to check on your assessment! The county assessment is the basis from which property taxes are derived and the groundwork for your tax bill. In Ohio, county auditors are required to do a full, general reappraisal once in every […]
Last week, the Federal Reserve raised interest rates for the third time in 15 months. At the same time, they signaled there could be at least two additional hikes in store this year, and more over the coming several years. The good news first: That means savings rates will continue to edge higher. The bad news? […]
A strong real estate market brings opportunities for savvy investors, and over the past few years, Columbus and Central Ohio has proved to be just that. Low interest rates are fueling a significant number of large scale new developments throughout the city, as well as re-development in other parts of town. This combined with these low rates, and strong […]
Mortgage rates held near their recent lows this week, with 30-year, fixed-rate loans averaging 3.59%. Last week, the average rate was 3.58%. A year ago it was 3.65%, according to Freddie Mac. Policymakers at the Fed raised short-term interest rates in December, causing people to worry that mortgage rates would rise, too. Thus far they […]
You might not think too hard about your real estate assessment, the dollar value the local government puts on your property value (house and land). You should as the assessment is the determining factor in how much you pay on property taxes. If you have a mortgage, your home lender is probably paying your property taxes out of an […]
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