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VietnameseThese past few months have proven one thing — you can count on absolutely nothing. Even with massive unemployment, the stock market is up, areas are re-opening and commerce is ramping back up. It is a very strange moment in history. And, of course, nothing is guaranteed which makes it […]
What Has Changed in the Mortgage Industry Today?
Over the past week, we’ve seen mortgage interest rates drop to historic lows. Last week, Freddie Mac announced the lowest rates ever in the history of the lender. The average new rate of 2.98% for a 30-year fixed-rate mortgage has been in response to concerns about the state of the […]
How the New FHFA Guidelines Regarding Refinancing After Forbearance Can Be Good
COVID-19 has us all yearning for the normalcy of a few months ago. In the state of Ohio alone, more than 1.3 million people have filed for unemployment in the past 3 months and we have distributed over $4.1 billion in unemployment checks. These startling statistics have resulted in over […]
Columbus Mortgage Company Shares Tips to Refinance with Record Low Rates
As most of us here in Ohio are dealing with social distancing, furloughs and economic unease, there are a few silver linings. One of these is interest rates. With the Federal Reserve’s recent rate cuts, the mortgage industry has responded like everything else: ups and downs. But the reality is […]
During Times of Economic Uncertainty, Should You Still Buy a Home?
With today’s fears of COVID-19 and the expansive financial uncertainties that have come with it, it’s causing a great amount of anxiety with buyers, particularly when more important things are being considered. Although these are unprecedented times, it’s also important to consider that these economic hardships should be shorter in […]
What Documents You Will Need to Apply for a Mortgage
Before purchasing a home, most buyers will need to qualify for a mortgage. In order to be approved, a buyer will need to prove to a lender that they are capable of paying the mortgage payments and household expenses as well as having a responsible financial history. Lenders do this […]
What Is a Debt-to-Income Ratio and How Does it Affect Your Mortgage Approval?
If you’re looking for mortgage financing, you may have already come across the term debt-to-income ratio or DTI. This figure will play an important part in whether you get mortgage financing and the amount of financing that is available to you. Comparing Debt to Income Your DTI ratio is a […]
A 15-Year Mortgage vs. 30-Year Mortgage: Which Is Right for You?
When you are mortgage shopping, you’re often confronted with a confusing array of rates, terms, lending criteria and on and on. One of those options is the term of the loan. Both 15-year mortgages and 30-year mortgages have their own set of pros and cons. You should consider these against […]
Why are Homebuyer Education Courses so Important?
It’s safe to say that the homebuying process is considerably more complex than leasing or renting an apartment, home, or studio. Owning your home requires a long-term financial commitment and heavy responsibilities. Fortunately, some states provide what are known as “homebuyer education courses” that can be completed in a classroom […]
When to Refinance Your Mortgage
With interest rates falling, homeowners are often tempted to refinance their current mortgage, hoping to take advantage of the lower rate and saving money. But the interest rate is only one factor in considering a refinance. It’s important to understand when it’s a financial good move and whether the cost […]
