FHA Approved Condos In West Chester Ohio

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FHA Approved Condos In West Chester Ohio

Condos For Sale In West Chester Ohio

What is an FHA approved condo?  Being FHA approved for a condo community means simply that the condos available for sale in the particular community can be financed using FHA insured mortgage loans.

How do I know if a particular condo community is approved for FHA mortgage 

What happens if a condo community is not FHA approved?  Mortgage financing can still be obtained for almost any condo regardless of whether or not it is FHA approved.  If a community is not approved it simply means that FHA financing cannot be used.  Conventional mortgage financing is still possible and obviously cash purchases are not affected.

Can a condo community be approved for FHA financing if it is not currently?  Condo communities and their homeowner association boards can always attempt to get FHA approved, although recent history shows that this is difficult to obtain.

Searching for condos for sale in West Chester Ohio?  You can start your search right here >>Condos for Sale In West Chester Ohio

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West Chester & Mason Ohio Real Estate – This Month In Real Estate November 2012

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West Chester & Mason Ohio Real Estate: This Month In Real Estate – November 2012

This Month In Real Estate for November 2012 takes a look at the national home sale numbers and also reveals Keller Williams (KW) research on the key factors that drive 1st time home purchases.

According to Keller Williams (KW) research 1st time homebuyers are motivated by the following factors:

1.)  The current market

2.)  Financial readiness

3.)  Location and price

Today’s West Chester & Mason Ohio real estate market offers record low interest rates and lower home prices.  Location for these buyers is often driven by the proximity to the first time homebuyers current rental and of course affordability is always a factor.

Find Some Great Homes For First Time Homebuyers in West Chester Here

Find Some Great Homes For First Time Homebuyers in Mason Here

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Mortgage Interest Rates In West Chester & Mason Ohio

This Month In Real Estate – October 2012

Mortgage Interest Rates In West Chester & Mason Ohio

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What are Mortgage Interest Rates in West Chester, Liberty Township & Mason Ohio??

LowryTeam.com Mortgage Interest Rate Update

 Mortgage Interest Rates In West Chester & Mason Ohio

Have mortgage interest rates hit their lows?  Will they continue to move lower?  These are good questions. The truth of the matter is nobody knows for sure.  With the uncertainty of the upcoming election and a continued soft jobs market almost anything is possible.  What we do know is that interest rates continue to hover around 3.80% for a 30 year fixed rate mortgage and this is a historic low.

Get preapproved for your mortgage before you begin to search for homes.

You can start your search for a new home in West Chester, Beckett Ridge or Liberty Township, Ohio right here using our real estate search engine – lowryteam.com.

Wondering what your home is worth in today’s real estate market? Request a market analysis here!

Have questions about buying a home or getting pre-approved for a mortgage?  Fill out the form below and we will happy to answer your questions and assist you.

Thomas Depew Joins The Lowry Team – Keller Williams West Chester

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Thomas Depew Joins The Lowry Team – Keller Williams West Chester

Thomas Depew - Real Estate Agent - The Lowry Team - Keller Williams RealtyThomas Depew

Buyer Specialist

A Real Estate Agent dedicated to helping people find the perfect fit in a home. Thomas grew up in the West Chester area, attending Lakota Local Schools. Thomas is currently attending Cincinnati State college seeking his Real Estate Technology degree. He is an athletic, hard working, out-going individual prepared to help serious buyers find their dream home.

Thomas has also studied Property Management and Real Estate Investing because he understands that the only way to build generational wealth is through Real Estate.

Thomas currently lives in Columbia Tusculum, and is the proud father of his son Bentley. He enjoys spending his free time learning and trying new things and exploring new and different areas to see homes and real estate.  

About The Lowry Team:

The Lowry Team – Keller Williams Realty has built a reputation for honest, professional real estate service.  We are committed to providing personal service combined with cutting edge technology to assist you every step of the way in your move.

We are a full service real estate firm that truly believes that our success is totally dependent on our client’s satisfaction.  Our focus on the Northern Cincinnati suburbs of West Chester, Liberty Township, Mason and Fairfield Township allows us to provide expert real estate advice and services to our clients to insure they have a great homebuying experience.  Whether you are buying a home or selling one, staying local or moving across the country or even internationally we can help.

West Chester & Mason Ohio Real Estate: This Month In Real Estate – August 2012

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West Chester & Mason Ohio Real Estate: This Month In Real Estate – August 2012

 

This Month In Real Estate for August 2012 takes a look at the national home sale numbers and also reveals Keller Williams (KW) research on the power of being pre-approved for a home loan.

According to Keller Williams (KW) research home buyers that get a full mortgage pre-approval are more likely to close on their new home compared to buyers who were only pre-qualified.  The research also shows that home buyers completed their contract negotiations within 3 days of submitting an offer.

You can start your home search right here:  http://www.LowryTeam.com/search

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This Month In Real Estate – July 2012

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West Chester & Mason Ohio Homebuyers To Face Higher FHA Mortgage Insurance Costs

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West Chester & Mason Ohio Homebuyers To Face Higher FHA Mortgage Insurance Costs

Mortgages & Interest Rates In West Chester & Mason OhioHomebuying is about to get quite a bit more expensive for many home buyers in West Chester & Mason Ohio, not just first time homebuyers.  No, interest rates are not on the rise (yet).  It’s the cost of mortgage insurance that is going up.  The Federal Housing Administration (FHA) which backs mortgages that allow for smaller down payments has announced that it is increasing the cost on two types of fees that homebuyers must pay.

The increase in the mortgage insurance costs is two fold for FHA backed mortgages.  (1)  the FHA has announced that it will increase it’s annual mortgage insurance premium by .10 of a percentage point for loans under $625,000, which will now cost 1.25% of the loan amount.  This increase takes effect on April 1st.  (2) the second fee being raised is the upfront mortgage premium.  It is being raised by .75 of a percentage point, making the premium 1.75% of the loan amount.  This fee is often rolled into the mortgage.

Moral of the story… you may want to get a home under contract to purchase and a mortgage loan application submitted before April 1st if you would like to avoid these higher costs of obtaining a mortgage.  All of this assumes of course that you are obtaining an FHA backed mortgage.  If you are using a conventional mortgage to buy a home this increase does not effect you.