If you are planning to buy a home in Ohio, you’ll be pleased to know that the Federal Housing Administrations (FHA) has announced lower mortgage insurance premiums for FHA loans beginning as soon as next week. You can read the full announcement from the White House . This is great news for both potential homebuyers […]
2023 Ohio FHA Guidelines in a Nutshell
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 […]
Top 4 Reasons To Buy a Home in Ohio in 2016
Low Rates Contrary to what you may have been led to believe from the nightly news, mortgage rates are still extremely low. The Fed did raise the target funds rate by a quarter-point in December. The first increase since 2006. An increase to the target funds rate does not equal an increase to mortgage rates. […]
New Mortgage Regulations and What They Mean To You
At the beginning of October, the mortgage industry saw one of the biggest changes to closing paperwork become a reality. On October 3rd, the new TILA-RESPA Integrated Disclosures (TRID) became required for all loans. These TRID disclosures combined four forms into two that are easier for borrowers to understand. The two new forms are the […]
Ohio FHA Homeowners Armed with Knowledge (HAWK) Program
Earlier this week the Housing and Urban Development Department (HUD) announced “Blueprint for Access” which outlines the additional steps that FHA is taking to expand access to credit for under served borrowers. Today HUD published a notice in the Federal Register for comment. The notice is Federal Housing Administration (FHA): Homeowners Armed with Knowledge (HAWK) […]
Whats New for Ohio Mortgages in 2014?
2014 is already a few days old, so let’s go over some of the changes that are already on tap for the mortgage industry this year. Qualified Mortgages (QM) rules from the Consumer Financial Protection Bureau (CFPB) go into effect this Friday, January 10, 2014. Basically this rule will put a borrowers loan into one […]
Ohio Homeowners, Why Now Might Be Your Last Chance for a Low Rate
Rates are on the rise. There is no simpler way to put it. So if you have been on the fence, waiting for rates to dip back down into the 3’s, you may be waiting for quite a while, if not forever. Freddie Mac’s Chief Economist, Frank Nothaft stated in November “..we look for fixed-rate mortgage […]
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 […]
FHA Guideline Update – Collection and Disputed Accounts
Last Thursday FHA announced revised guidelines for Collection Accounts and Disputed Accounts. The new guidelines may make it difficult for some Ohio FHA homebuyers and homeowners that are looking to get an FHA mortgage. The main impact will be on debt-to-income ratio. Ohio mortgage seekers that have a higher than ideal debt to income ratio […]
