An Ohio FHA Mortgage is insured by the Federal Housing Administration (FHA), a federal agency run by the United States Department of Housing and Urban Development (HUD). The FHA Mortgage program’s goal is to promote homewoenrship, thus it is available to all buyers. Based on client feedback, these are the most pertinent guidelines that Ohio […]
5 Questions To Ask Your Loan Officer
There are some obvious questions to ask your loan officer, such as what is the interest rate? How much is the mortgage payment? How much are the closing costs? There are some other questions that you should ask in addition to the obvious ones. What should I expect during the loan process? Many aspects of the […]
Ohio Mortgage Market News for the week ending December 20, 2013
as provided by Fed Announces Taper Heading into Wednesday’s highly anticipated Fed meeting, investors were divided about what the Fed statement would reveal. The Fed announced that it will begin to scale back its bond purchase program. The stock market rallied after the news, but mortgage rates rose modestly and ended the week a […]
Ohio Interest Rates Set to Rise, Thanks Fannie Mae!
Fannie Mae has just announced new Loan Level Price Adjustments (LLPAs) that go into effect for loans purchased on or before March 31, 2014. A mortgage must close, before it can be “purchased” on the secondary market. My best guess is that lenders will begin to carry out these new LLPAs for loan submitted after […]
Ohio Mortgage Rates On the Rise
The last 2 days have been brutal for mortgage rates, but the trend started over a month ago. Ohio Mortgage Rates are driven by Mortgage Backed Securities, which according to Investopedia.com are “a type of asset-backed security that is secured by a mortgage or collection of mortgages.” Falling Mortgage Backed Security (MBS) prices equates to […]
Buying a Home in Ohio? Get In Line.
Over the last few months I have talked to many clients seeking to buy a home. From first time homebuyers and seasoned home buyers and from newlyweds to relocations. One thing that has been similar is the number of offers they have had to submit before they had one accepted. The housing market in Ohio, […]
Ohio Mortgage Standards To Loosen?
As another signal of an improving U.S. economy, the nation’s biggest banks have started to loosen mortgage lending standards.
Credit Scores and the Best Mortgage
So you are in the market to buy a new home or maybe you are thinking about refinancing your mortgage to take advantage of the historically low rates. What should you do to set yourself up for the best possible terms on the new mortgage? Check your credit! I have dealt with many clients all […]
FORECLOSURE AFFECTS ON FUTURE HOME OWNERSHIP
Everywhere we turn we are inundated with news of, and statistics about foreclosures. Hardship foreclosures, strategic foreclosures, the list goes on and on. One question frequently asked is “What is the actual date of the foreclosure?”. Is it the date of sheriff’s sale, the date of the confirmation of sale, the date the deed was […]
