Showing posts with label mortgage. Show all posts
Showing posts with label mortgage. Show all posts
Saturday, August 13, 2011
Interest Rates Near Historic Lows!
Do not hesitate to call and inquire about refinancing. The market is very volatile, and rates may not stay this low for very long. Also, if you're thinking about purchasing a home, now is the time!!! Call me at (513) 520-6044 or email: bahale1@gmail.com
Tuesday, April 26, 2011
Down Payment Funds For First Time Homebuyers
The Welcome Home funds program has been closed for the year, but if you are a home buyer looking in Ohio or Kentucky, you may be eligible for state grant money. Please contact me for details at (513) 520-6044 or bahale1@gmail.com
Monday, July 12, 2010
Ohio Housing Finance Agency has revised interest rates for first time homebuyers - great rates, great programs!
4.75% for loans without 2.5% assistance grant
5.25% for loans with 2.5% assistance grant
4.50% for Ohio Heroes without 2.5% assistance grant
5.00% for Ohio Heroes with 2.5% assistance grant
4.75% for Grant for Grads 2.5% assistance grant
This is a 30 year fixed rate. FHA/VA/USDA-RD loans are eligible. Effective 7/8/2010.
Please contact me for specific program details. Call me at (513) 520-6044 or email: bahale1@gmail.com
4.75% for loans without 2.5% assistance grant
5.25% for loans with 2.5% assistance grant
4.50% for Ohio Heroes without 2.5% assistance grant
5.00% for Ohio Heroes with 2.5% assistance grant
4.75% for Grant for Grads 2.5% assistance grant
This is a 30 year fixed rate. FHA/VA/USDA-RD loans are eligible. Effective 7/8/2010.
Please contact me for specific program details. Call me at (513) 520-6044 or email: bahale1@gmail.com
Monday, February 22, 2010
Extended First Time Home Buyer Tax Credit
Don't Miss It!
Dear first time homebuyer: are you one of the many who did not get the chance to buy a home in 2008 or 2009? Maybe you were worried about your job, the economy, or maybe you looked around at a few homes and didn’t find something that you were picturing as your “dream” house?
2010 has dawned upon us and home prices are still low, interest rates are still low, and like flowers in the spring, the economy seems to be showing tiny signs of green shoots…
…and you still have a chance to buy a home and benefit from the tax credit!
Are you aware that the tax credit has been extended? Yes, indeed you have been granted that rare second chance to get out there, find a home, and receive money for your efforts!
As part of the ongoing plan to stimulate the US housing market, congress passed legislation in late 2009 to extend the First Time Home Buyer Tax Credit until April 30, 2010. You can receive up to $8,000 with this tax credit. Just imagine the things you can do with that amount of money!
You may be worried: what if I can’t find a house…negotiate the contract…and close on my new home by April 30, 2010? That date is fast approaching! Well, there’s good news on this as well: you have to be under a written, binding purchase contract by April 30, 2010, but you have until June 30, 2010 to close – that’s plenty of time!
So don’t miss out on this opportunity – you have the chance to purchase a well-priced home, obtain a home mortgage with a historically low interest rate, AND receive a tax credit. So make a goal today to rent no more! Please contact me at (513) 520-6044 or email me at bahale1@gmail.com to get started!
Dear first time homebuyer: are you one of the many who did not get the chance to buy a home in 2008 or 2009? Maybe you were worried about your job, the economy, or maybe you looked around at a few homes and didn’t find something that you were picturing as your “dream” house?
2010 has dawned upon us and home prices are still low, interest rates are still low, and like flowers in the spring, the economy seems to be showing tiny signs of green shoots…
…and you still have a chance to buy a home and benefit from the tax credit!
Are you aware that the tax credit has been extended? Yes, indeed you have been granted that rare second chance to get out there, find a home, and receive money for your efforts!
As part of the ongoing plan to stimulate the US housing market, congress passed legislation in late 2009 to extend the First Time Home Buyer Tax Credit until April 30, 2010. You can receive up to $8,000 with this tax credit. Just imagine the things you can do with that amount of money!
You may be worried: what if I can’t find a house…negotiate the contract…and close on my new home by April 30, 2010? That date is fast approaching! Well, there’s good news on this as well: you have to be under a written, binding purchase contract by April 30, 2010, but you have until June 30, 2010 to close – that’s plenty of time!
So don’t miss out on this opportunity – you have the chance to purchase a well-priced home, obtain a home mortgage with a historically low interest rate, AND receive a tax credit. So make a goal today to rent no more! Please contact me at (513) 520-6044 or email me at bahale1@gmail.com to get started!
Thursday, January 21, 2010
What To Expect When Applying For A Mortgage Part 3
Obtaining Your Mortgage Pre-Approval
The most important aspect of the mortgage process is determining how much home you can afford to purchase. This will be the driving force of your home search. Be prepared to provide a detailed summary of your economic life for the past 2 years.
Once in contact with your mortgage consultant, she will ask you for some basic information to complete the loan application. This will include questions about your employment and residency for the past 2 years, and your current income and assets. If you are purchasing a home, she will need to know the amount of your down payment.
Your mortgage consultant will then pull a tri-merge credit report that will reveal your 3 credit scores from TransUnion, Experian, and Equifax. She will use your middle credit score to qualify you for specific loan programs and determine your interest rate. In this current mortgage market: the lower your credit score, the greater the potential you’ll receive a higher interest rate. Credit scores range from 300 to 850, with the best rates given to scores above 740.
The mortgage consultant will run your credit, income, and asset information through an automated underwriting process. The automated underwriting process will produce a general loan approval or a loan decline based on the information provided at that time. The loan approval will be subject to specifics such as appraisal of property, title search, change or loss of employment or assets, and verification of funds for down payment.
This process will help you establish the price range of homes that you will be comfortable shopping in. It is helpful to be completely informed of your mortgage choices from the beginning, so that there are no surprises down the road.
If you’d like to find out what your borrowing power is for a new home, please contact me at bahale1@gmail.com or call (513) 520-6044.
The most important aspect of the mortgage process is determining how much home you can afford to purchase. This will be the driving force of your home search. Be prepared to provide a detailed summary of your economic life for the past 2 years.
Once in contact with your mortgage consultant, she will ask you for some basic information to complete the loan application. This will include questions about your employment and residency for the past 2 years, and your current income and assets. If you are purchasing a home, she will need to know the amount of your down payment.
Your mortgage consultant will then pull a tri-merge credit report that will reveal your 3 credit scores from TransUnion, Experian, and Equifax. She will use your middle credit score to qualify you for specific loan programs and determine your interest rate. In this current mortgage market: the lower your credit score, the greater the potential you’ll receive a higher interest rate. Credit scores range from 300 to 850, with the best rates given to scores above 740.
The mortgage consultant will run your credit, income, and asset information through an automated underwriting process. The automated underwriting process will produce a general loan approval or a loan decline based on the information provided at that time. The loan approval will be subject to specifics such as appraisal of property, title search, change or loss of employment or assets, and verification of funds for down payment.
This process will help you establish the price range of homes that you will be comfortable shopping in. It is helpful to be completely informed of your mortgage choices from the beginning, so that there are no surprises down the road.
If you’d like to find out what your borrowing power is for a new home, please contact me at bahale1@gmail.com or call (513) 520-6044.
Monday, January 11, 2010
What To Expect When Applying For A Mortgage Part 2
Locate Your Relevant Documentation
Being prepared for your conversation with your mortgage consultant is crucial to getting the most out of your experience. Before contacting your mortgage consultant, gather the following documentation:
• 30 days of recent pay stubs
• 2 years of recent W-2s
• 2 months bank statements, checking and savings
• 401K/IRA statements
• Bankruptcy filing and discharge, if applicable
• Divorce decree/separation agreement, if applicable
You may need additional documentation, especially if you are a first-time homebuyer, self-employed, or a veteran applying for a VA loan. Your mortgage consultant will advise you specifically in those cases.
Some of these items you may not have readily available, so you may have to contact previous employers, banks and others to obtain this information. This may take additional time. Also, some banks charge for reprints of bank statements.
Just remember that you will need to keep track of any new pay stubs, bank statements and anything else your mortgage consultant asks for during the loan process, so don’t throw anything away – and stay away from the shredder!
If you would like a more detailed list of documentation that is specific to your situation, please contact me at bahale1@gmail.com or (513) 520-6044.
Being prepared for your conversation with your mortgage consultant is crucial to getting the most out of your experience. Before contacting your mortgage consultant, gather the following documentation:
• 30 days of recent pay stubs
• 2 years of recent W-2s
• 2 months bank statements, checking and savings
• 401K/IRA statements
• Bankruptcy filing and discharge, if applicable
• Divorce decree/separation agreement, if applicable
You may need additional documentation, especially if you are a first-time homebuyer, self-employed, or a veteran applying for a VA loan. Your mortgage consultant will advise you specifically in those cases.
Some of these items you may not have readily available, so you may have to contact previous employers, banks and others to obtain this information. This may take additional time. Also, some banks charge for reprints of bank statements.
Just remember that you will need to keep track of any new pay stubs, bank statements and anything else your mortgage consultant asks for during the loan process, so don’t throw anything away – and stay away from the shredder!
If you would like a more detailed list of documentation that is specific to your situation, please contact me at bahale1@gmail.com or (513) 520-6044.
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