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VietnameseAs 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 […]
Do You Need a Jumbo Loan in Ohio?
If you are shopping for a home in Ohio, the amount you need to borrow to finance your purchase will either fall above or below the conforming loan limits set by Fannie Mae and Freddie Mac. If you are borrowing under the conforming loan limit, you are eligible for a […]
