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What Are Mortgage Interest Rates In West Chester & Mason Ohio?

September 23, 2011 by Eric Lowry Leave a Comment

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 higher lower?  These are good questions. The truth of the matter is nobody knows for sure.  We had seen an uptick in mortgage interest rates in West Chester & Mason Ohio earlier this year, only to see them sag back down again, as you can see on the graph. The interest rates are now hovering around in a range between 4.00% – 4.25% for a 30 year fixed rate mortage.

It has seemed like in West Chester and Mason Ohio that we had seen the lowest levels and that interest rates would likely continue to edge a little higher and then the economy shows continued weekness overall and the rates sag back down again.  The only certainty that exists right now is that these are historically low rates for home purchases.

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.

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    Filed Under: Eric Lowry's Articles, Financing Tagged With: Beckett Ridge Real Estate, Buying A Home, Buying A Luxury Home, Buying Short Sales, Eric Lowry, Interest Rates, Keller Williams Realty, Liberty Township Real Estate, low interest rates, LowryTeam.com, Mason Ohio Real Estate, mortgage lenders, Mortgages, Search Homes For Sale, Search The MLS, Searching For A New Home, Top Real Estate Agent, VIPHomeFinder.com, West Chester Real Estate

    West Chester & Mason OH Real Estate: How To Buy A House Before Your House Sells

    August 24, 2011 by Eric Lowry Leave a Comment

    West Chester & Mason OH Real Estate:

    How to Buy a House Before Your Other House Sells

    In the buyer’s market that we are currently experiencing, the inventory of homes for sale can be astounding. Deciding on a home to buy is difficult enough, but what happens when you have one to sell beforehand? Many times, especially in a soft real estate market, a buyer may get into a situation where they find a new house before their current house sells. Acting as a buyer and a seller in separate transactions can be tricky business, especially if you need the equity from your current home to pay for the new home. Luckily there are some best practices that can help show you how to buy a house In West Chester or Mason OH before your other house sells.

    >>Search West Chester & Mason OH Real Estate Here<<

    Consider a Bridge or Home Equity Loan. There are many financing options available when it comes to home buying, and bridge loans can be an easy way to finance a new home sale before your existing home closes. A bridge loan is one that is used to provide funds needed for a short period until another source of funds becomes available. Sometimes called a “swing” loan, it allows a homebuyer who needs the equity in his old home to pay for the new one to close on the new home purchase before closing on the old home sale. The interest rates on these loans are typically high. However, because the loan will be paid off in a short period of time, this should not be a huge problem for buyers. In a similar vein, you might consider a home equity loan on the house you already own. This is a bit riskier, but provides the same benefits.

    Rent your current home. If you can find short-term or month-to-month tenants who are willing to rent your current home until it sells, you can avoid having to worry about the house sitting vacant while you are moving into the new home. This can help you avoid having to winterize or de-winterize the property and stage the home for showings. You will also be able to apply the rental income to your existing mortgage on the house, to alleviate the financial burden of paying two mortgages.  If you pursue this strategy be careful that you don’t end up with a renter that will make showing and selling your home more difficult.

    Work with the Seller. In a soft market where buyers are limited, sellers are often willing to work with the buyer on a purchase agreement that works for both parties. If you’ve already found the house you want to buy, but haven’t yet sold your existing home, it may be possible that the seller will allow you to make a down payment with a signed contract that permits you to extend the actual closing of your new home by a couple of months until your old house sells.

    Should I Buy a New House Before I Sell the Old One?

    Buying a new house In West Chester or Mason Ohio before your current house sells is not an ideal situation, but there ways to get through it that can alleviate the risk and financial burden. If you’ve considered the options above and are still unable to find a solution that works, an alternative and less attractive choice may be to hold off on buying a new home until your existing home is the final stages of closing. As disappointing as this can be for sellers who are anxious to move, it is a more desirable situation than being stuck with two mortgages and no remaining credit for other daily or emergency needs.

    Your real estate questions are always welcome.  Please fill out the form below and we will get back to you as soon as possible.

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      Filed Under: Buyers, Eric Lowry's Articles, Financing, Real Estate News Tagged With: Buyers market, Buying A Home, Cincinnati, Eric Lowry, Interest Rates, Keller Williams Realty, low interest rates, LowryTeam.com, Mason Ohio Real Estate, mortgage lenders, Mortgage Preapprovals, Ohio, Selling A Home, Top Real Estate Agent, VIPHomeFinder.com, West Chester Ohio Real Estate

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

      July 13, 2011 by Eric Lowry Leave a Comment

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

      LowryTeam.com Mortgage Interest Rate Update

      Have mortgage interest rates hit their lows? Will they continue to move higher? These are good questions. The truth of the matter is nobody knows for sure. Mortgage interest rates have moved higher in the last 6-7 months only to see them sag back down again, as you can see on the graph.  The rates continue to bounce around in a range between 4.50% – 5.00%.

      LowryTeam.com Interest Rate Tracker
      Click The Image To See A Larger Version

      It does feel like we have seen the lowest levels and that interest rates will likely continue to edge a little higher as we move through the late summer and fall real estate markets.  Get preapproved for your mortgage before you begin to search for homes.  You can get preapproved for a mortgage to buy a home in West Chester, Liberty Township & Mason Ohio.

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

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

      Filed Under: Buyers, Eric Lowry's Articles, Financing Tagged With: Dave Scully, Eric Lowry, Evolve Bank & Trust, Interest Rates, Keller Williams Realty, Liberty Township Real Estate, LowryTeam.com, Mason Ohio Real Estate, mortgage lenders, Mortgage Preapprovals, Mortgages, VIPHomeFinder.com, West Chester Real Estate

      FHA Mortgage Loan Limits Changing – Does It Matter?

      June 27, 2011 by Eric Lowry Leave a Comment

      FHA Loan Limits Maybe Changing In West Chester, Liberty  Township & Mason Ohio

      FHA Mortage Financing - Get Preapproved HereFHA loan limits may be changing this fall in Butler & Warren Counties, including places like West Chester, Liberty Township & Mason Ohio.  The question is, does it really matter to the housing market?  On the face of it, it would seem to be a big deal.  Having the FHA mortgage loan limit changing from a current level of $337,500 to a smaller loan limit of $271,050 in Butler & Warren County is a big change, actually almost a 20% drop in the loan limit.  So that is big.

      But,  as I said before, does it really matter?  A look inside the housing numbers for areas in Butler County like West Chester, Liberty Township and Mason OH indicates it may not be that big of a deal.  So far in 2011, there have been 50 closed sales in the $280,000 – $350,000 price range (the range that would be eliminated by the loan limit reduction) in West Chester & Liberty Township.  Of those 50 closed sales, 8 of the buyers used FHA financing which is 16%  of the sales.  In Mason, there were also 50 closed sales in that range in 2011 and just 6 of those buyers used FHA financing which is of course 12% of the sales.  (Disclaimer: the sales data referenced here came from the Greater Cincinnati Multiple Listing Service).

      So, will the housing market be negatively impacted by the change that is set to occur.  The housing sale numbers in West Chester, Liberty Township & Mason would seem to indicate that they would not be.  The fact is some of the homebuyers that did use FHA financing in this price range, may have done so because they could use this lower down payment mortgage program (3.5% down payment) not because they needed to.  It is very likely that at least some of these homebuyers could have made a larger downpayment if they would have needed to.

      Why is this change in the FHA loan limits set to take place at the end of September?  To get the federal government out of the mortgage business is the answer.  They want the mortgage market to move back towards private investors buying mortgages and reduce the overly large percentage that are now being bought by the federal government.  The long term impact of this policy change may very well be higher interest rates, but then, those are inevitable anyway!

      This isn’t to say that other areas of Ohio and our country may be more directly impacted by this change, but the impact in West Chester, Liberty Township and Mason, Ohio should be very small.

      You comments and questions are always welcome!

      Is it time for you to buy a home?  Start your search for a new home in West Chester, Liberty Township or Mason Ohio Here!

      Filed Under: Eric Lowry's Articles, Financing, Real Estate Information, Real Estate News Tagged With: Beckett Ridge Real Estate, Eric Lowry, FHA Financing, FHA Loan Limits, FHA Loans, Homebuyers, Interest Rates, Keller Williams Realty, Liberty Township Real Estate, LowryTeam.com, Mason Ohio Real Estate, Mortgage Preapprovals, Mortgages, VIPHomeFinder.com, West Chester Real Estate

      West Chester & Liberty Twp OH Real Estate: Tuesday Open House – March 29, 2011

      March 29, 2011 by Eric Lowry Leave a Comment

      It’s Tuesday, so this must be the Tuesday Open House.

      What is Tuesday Open House?? Well, it’s clearly not an “open house”. Open Houses don’t sell homes… good internet marketing does… but it seemed like a good title for this weekly blog post.

      It is my way of throwing the doors open on the RealEstate-Ink.com blog and offering up a few quick articles and facts on real estate for the West Chester, Liberty Township, Beckett Ridge, Mason and Fairfield Township, Ohio areas. It is not intended to be all about homes for sale, but it will be about that some of the time…

      Mortgage Interest Rates - Get PreapprovedMortgage Interest Rates:  The tax credits are gone and if you are looking for a reason to buy a home, look no further.  Thirty year fixed rate mortgages are 4.85% today.  The difference that this rate can make in your monthly payment is amazing.  Just look at this example of what these low rates really mean:

      $200,000 mortgage amount @ 5.50%  =  $1135.58 monthly principal & interest payment

      $200,000 mortgage amount @ 4.85%  =  $1055.38 monthly principal & interest payment

      This example shows a monthly savings of $80 on your mortgage payment and this is compared to a mortgage interest rate of 5.50% which is a historically low rate itself!

       

      Need Mulch? If you are preparing your home to get it on the market for salesoon,  don’t forget the curb appeal. As the old saying goes… you only get one chance to make a good first impression. So clean up the landscaping and get yourself some fresh mulch. I’m not sure that there is a better way to go than to get it from the boy scouts. They even deliver! You can just go directly to the boy scouts site right here. My mulch is being delivered in just a couple of weeks…anyone like to help??

       

       

      Has the real estate market stabilized? Get your personal real estate market update and monitor home values in your neighborhood.  You’ll see homes for sale in your neighborhood right now, you’ll see detailed information on homes that have sold and best of all this personal market update will be delivered completely free and directly into your inbox with no obligation.  Get your real estate market update right now at www.HomeValuesInCincy.com

       

       

      Our facebook fan page of the week is: The Cincinnati Reds  It is opening day in Cincinnati this week after all!  You can find information on the Reds, information on events and giveaways and great player information.  As of this writing their page has 314,242 fans, so I ask that you check out their fan page, become a fan and invite your facebook friends to do the same.

      While you are on facebook checking out the Cincinnati Reds fan page, please visit and become a fan of our facebook page: www.Facebook.com/LowryTeamRealEstate

      What is my home worth? Want to get a good idea of what your home is worth… Get your own Personal Real Estate Market Update

      Searching for homes for sale?  Search all of the homes for sale in West Chester, Beckett Ridge, Liberty Township, Mason or Monroe Ohio… Search The MLS

       

      Filed Under: Buyers, Eric Lowry's Articles, Financing, Financing Options, Just For Fun, Real Estate Information, Real Estate News, Tuesday Open House Tagged With: Beckett Ridge Realtor, Cincinnati, Eric Lowry, Eric's Hassle Free Listing, Facebook Fan page, Finding My Homes Value, Home Values, Interest Rates, Keller Williams Realty, Liberty Township Real Estate, low interest rates, LowryTeam.com, Mortgages, Ohio, Real Estate News, Relocating To Cincinnati, Relocating To Liberty Township, Relocating To West Chester, Search Homes For Sale, Top Real Estate Agent, Top Selling Realtor, Tuesday Open House, VIPHomeFinder.com, West Chester Real Estate

      West Chester OH Real Estate: This Month In Real Estate – March 2011

      March 23, 2011 by Eric Lowry Leave a Comment

      Click Here To Search The Entire Cincinnati MLS Database Of Homes For Sale! Wondering what your home is worth in today’s real estate market? Request a market analysis here!

      Filed Under: Eric Lowry's Articles, Market Update, Real Estate Information, Real Estate Market Reports, Real Estate Market Statistics, Real Estate News, This Month In Real Estate Tagged With: Buying A Home, Buying A Luxury Home, Eric Lowry, Eric's Hassle Free Listing, Interest Rates, Keller Williams Realty, low interest rates, LowryTeam.com, Mortgages, Search Homes For Sale, Search The MLS, This Month In Real Estate, VIPHomeFinder.com

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