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 Rate Alert – Why Have Rates Moved Higher?
After reaching record lows near the end of July, mortgage rates have moved steadily higher this month. From their peak around July 24, mortgage rates have increased one-quarter point or more. Prior to July 26, two primary factors were responsible for the decline to record lows. First, the European debt troubles caused investors to shift […]
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.
Major USDA Updates Coming October 1st
USDA recently released proposed changes to eligibility areas in Ohio and fees that will go into effect October 1st. USDA makes these changes for its USDA mortgages based on: increases in population based on the 2010 census the area no longer meets the definition of Rural because the county is now part of a Metropolitan […]
Mortgage Rates, What Lies Ahead – August 6, 2012
Mortgage bonds worsened last week, moving to a near-6 week high.
Ohio USDA Refinance
Recently USDA’s Rural Development release a new and improved refinance program. In the past, a homeowner that purchased their home with a USDA Rural Development mortgage could refinance into a new USDA Rural Development mortgage, but had to meet certain requirements, and often had to get an appraisal on their property. This made it nearly […]
Ohio USDA Mortgage Loan Potential Changes
Ohio USDA Mortgage Loan applicants you have until October to get a USDA mortgage before possible re-alignment of USDA eligible areas may occur. All thanks to the 2010 Census. Everyone thought the 2010 census was a thing of the past, well think again. The data from the 2010 Census is going to cause USDA to […]
WHAT IS A USDA MORTGAGE?
USDA, well known for grading beef, also insures home loans. The mortgage program is known as the USDA Rural Development Guaranteed Loan. So what makes the USDA mortgage special? For starters, it is a true 100% (no down payment) mortgage. Whats the catch? No catch, but below is a list of some of the important […]
OHIO RESIDENTS, GET READY FOR MORTGAGE COSTS TO GO UP
The payroll tax cut extension that Congress agreed to extend on December 23rd will have far reaching implications. One of those implications is increasing the cost of a mortgage for those of us in Ohio and across the country. The loan guarantee fee paid by Fannie Mae and Freddie Mac will increase by 10 BPS […]
