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Can I buy a house with student loan debt?

February 11, 2016 by Eric Lowry

513-368-3751 to Connect with a Top Cincinnati Real Estate Agent

Home Values	Free Homebuying Guide	Contact Us
West Chester	Liberty Township	Mason
Fairfield	Fairfield Township	Monroe

Can I buy a house with student loan debt?

Not sure if you can buy a house with student loan debt? Well don’t count yourself out from buying a home just because you have student loans.

Qualifying for a home loan is based on several factors; one of which is your Debt to Income Ratio (DTI). This is is based on exactly what it sounds like – your income and your total amount of debt. Your DTI is determined by things like car loans, credit card debt, student loans, etc. As long as your DTI falls under the maximum level, you are likely good to go.

The following chart shows average DTI ratios based on loan type. For all loans, the average is 39% – which means that for all buyers who got a home loan, their total debt monthly payments were only 39% of their monthly income. For FHA, it’s even a bit higher at 41%.

So just because you have student loans doesn’t mean that you won’t qualify to buy a house. You just need to make sure the total amount of your monthly debt payments doesn’t exceed 41% of your monthly income.

Contact us today to discuss your ability to buy a house. Call or text 513-368-3751

What credit score do I need to buy a house?

How long does it take to buy a house?

5 Hidden Costs of Buying a House

Houses for Sale in Foxborough – West Chester Ohio

February 10, 2016 by Eric Lowry

513-368-3751 to Connect with a Top West Chester Real Estate Agent

Home Values	Hassle Free Listing	Contact Us
West Chester	Liberty Township	Mason
Foxborough	Reserves of Providence	Oaks of West Chester

Houses for Sale in Foxborough Subdivision in West Chester Ohio

Looking for a home in Foxborough Subdivision? See all Foxborough homes currently listed for sale with full details and photos. Our Homes For Sale information is a direct feed from the Multiple Listing Service (MLS) and is updated every 5 minutes.

Foxborough is a luxury home subdivision which was the site of Homearama in 2011. Foxborough is a beautiful community with rolling hills and tree lined streets. There are three ponds and walking trails throughout.

Foxborough is a pool community, and also features a park with pavilion, viewing terrace, playground, and a basketball court. The subdivision is located on one of the highest points in West Chester, offering beautiful views of the surrounding areas.

Foxborough is zoned for Endeavor Elementary, Plains Junior School, and Lakota West High School.

For more information about buying or selling a home in Foxborough,
call or text Eric Lowry at 513-368-3751

5 Hidden Costs of Buying a House

February 10, 2016 by Eric Lowry

There is more to buying a house than just a down payment and a monthly mortgage payment. It’s important to keep in mind all the different costs of buying a house so that you don’t end up in a stressful financial situation. The following are several costs that some potential buyers aren’t aware of before starting a home search.

Home Inspection – You really should never even consider buying a house without having a professional home inspector do a thorough examination of the property. Depending on the type of inspection package you get, the cost can range from around $500 – $850.

Closing Costs – These include appraisal fees, title insurance, attorney fees, property transfer taxes, lender fees, etc. These typically add up to a couple thousand dollars.

Home Insurance – Homeowners insurance is another common cost that most people don’t think about when starting their home search. Cost depends on where you live and what insurance company you use.

Mortgage insurance – Many loan programs where a buyer puts down less than 20%, require mortgage insurance which protects the lender if a buyer defaults on their mortgage.

Moving costs – The actual process of moving can be costly as well. When moving you’ll have to purchase packing materials and rent a truck or hire professional movers, the costs of which can add up quickly.

Bottom Line: Make sure you are financially well prepared to face all the extra costs involved in purchasing a home.

Questions about the costs of buying a house? Contact us today! Call or text 513-368-3751

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams by calling or texting 513-368-3751.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

A Complete Guide to Buying a Home

What credit score is needed to buy a house?

Where are interest rates headed?

Why Use a Real Estate Team Instead of a Single Agent

Can my real estate agent represent me on new construction?

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter

Pool Communities in Mason Ohio

February 9, 2016 by Eric Lowry

Neighborhoods with Pools in Mason Ohio

Carmelle – Carmelle has over 140 single family homes. The subdivision is a sidewalk and pool community. Carmelle home values range from $475,000 – $850,000.

Chestnut Hill – Chestnut Hill was established in 2003 on 104 acres. There are over 140 single family homes in Chestnut Hill. Chestnut Hill was the site of Homearama in 2004. The subdivision features a pool, clubhouse, and playground. Home prices in Chestnut Hill range from around $450,000 – $1,000,000.

Greenbrier – Greenbrier subdivision has over 450 single family homes and townhomes. The subdivision features a pool, clubhouse, basketball court and playground. There are streetlights, sidewalks, walking paths and lakes throughout the neighborhood. Greenbrier home values range from around $130,000 – $400,000.

Long Cove – Long Cove subdivision was the site of the luxury home show Homearama in 2005, 2006, and 2008 featuring beautiful, custom built homes. The subdivision features a pool, clubhouse, exercise room, and community landscaping with several lakes throughout. Home values in Long Cove range from $800,000 – $2.5 Million.

Rosemont – There are over 300 single family homes in Rosemont. Home values in Rosemont range from $314,900 – $439,000. Rosemont has a pool, two playgrounds and a basketball court. There are streetlights, sidewalks, walking paths and ponds throughout the neighborhood.

Simpson Creek Farms (North) – The half of Simpson Creek Farms on the north side of Socialville Foster features a basketball court, playground, pool, sidewalks, and a clubhouse. Home prices in Simpson Creek Farms range from $200,000 – $250,000.

Village Lakes – There are over 500 single family homes and townhomes in Village Lakes. The subdivision features a pool, clubhouse, tennis courts, a gazebo, half court basketball and play area. There are streetlights, sidewalks and walking trails throughout the neighborhood. Village Lakes home values range from $130,000 – $330,000.

Waters Edge – Waters Edge subdivision is made up of a single family homes section and condo section. The subdivision features community tennis courts, a pool, a basketball court, and a playground. There are sidewalks throughout, and beautiful ponds with benches nearby. Single family home prices in Waters Edge range from $250,000 – $325,000; and condo prices fall in the lower $100K’s.

Whispering Springs – Whispering Springs subdivision features a pool, and walking trails. Whispering Springs home prices range from around $550,000 – $650,000.

White Blossom – White Blossom features a community pool, and playground. Home prices in White Blossom range around $300,000 – $375,000.

Looking for a home in one of the pool communities in Mason Ohio?
Contact The Lowry Team for more information. Call or text 513-368-3751

See Pool Communities in West Chester Ohio
See Pool Communities in Liberty Township Ohio

Don’t Hire an Agent…Hire a Team. The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams by calling or texting 513-368-3751.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

A Complete Guide to Buying a Home

What credit score is needed to buy a house?