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The Lowry Team Keller Williams: Buy A Home With A Low Down Payment

January 16, 2015 by Eric Lowry Leave a Comment

Can You Buy A Home With A Low Down Payment?

Do you think you need 20% down to buy your first home? Think again! According to a recent survey, 2/3 of all buyers put 5% or less down when purchasing a home. That, together with interest rates being at historic lows, means there has never been a better time to buy your first home.

If you are thinking of buying your first home, visit our website at www.LowryTeam.com

There are many advantages of buying a home, financial or otherwise.  If you are considering buying your first home you can start your home search here:

Click Here to search the entire Cincinnati MLS for Cincinnati Real Estate for sale.

Buying a home as a first time homebuyer is a complex process, one that a real estate agent specializes in navigating.  A real estate agent will advocate for you and your interests throughout the whole process, which makes it important for you to find the agent that will best fit your needs.  

The Lowry Team takes a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator and a Marketing Director. This ensures that you get more focused attention and your home buying or selling process goes as smoothly as possible.

Contact The Lowry Team of Keller Williams Realty Associate Partners today to get in touch with a real estate specialist.

The Lowry Team is an award winning, full service real estate firm. The Lowry Team’s culture is that of a fun, high energy group who prides themselves on providing, personal, professional real estate service.

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

Buyers and Sellers can reach The Lowry Team, Keller Williams at 513-874-1830.

Other Articles  You May Be Interested In:

Buying A Home In Today’s Market

What You Should Know Before Buying A Home

West Chester Ohio Is One of The Best Places to Live

Where Are Rents Headed In 2015

The Advantages of Buying a Home

The Cost of Renting

Fannie Mae and Freddie Mac Are Offering 3% Down Programs

The 6 Most Essential Home Buyer Tips

Homes For Sale In West Chester 

Search the MLS for Homes For Sale

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Filed Under: Buyers, Eric Lowry's Articles, Financing, Financing Options, First-time Homebuyer Tagged With: Buying A Home, buying your first home, first time home buyer specialist, Home Values, Homes For Sale, how to buy a home, how to buy a home with a low down payment, Keller Williams Realty, low interest rates, Search Homes For Sale, The Lowry Team, The Lowry Team Keller Williams: Buy A Home With A Low Down Payment

Planning To Buy A Home Next Year?

October 26, 2011 by Eric Lowry Leave a Comment

Planning To Buy A Home Next Year?

Search The Entire MLS - Homes For SaleIf you are planning to buy a home next year it’s time to get started.  Interest rates are at historically low levels and home prices are right down there with them.  This makes for an opportune time to buy a home, whether you are a first time homebuyer or are a “move up” homebuyer.

Some potential home buyers remain concerned about home prices falling further.  It is always possible that they could go a little lower, however there is no way to know where the exact bottom is until we have passed it and home prices are on there way back up.  Historically speaking home prices do go up and they do go down, it’s just cyclical.

Missing out on the lowest interest rates is more of a concern than fluctuating home prices.  Buying a $150,000 home with an FHA mortgage (3.5% down payment) at 4.00% interest rate gives you a monthly payment of $691.  Buying that same home after rates have increased by just .5% increases that monthly payment to $734.  The difference in the monthly payment amount is as if you had bought a $160,000 home with the 4.00% interest rate.

So, if you are going to buy a home next year the following steps should be taken starting now:

#1.  Get PreApproved For A Mortgage

Why now you ask?  Getting preapproved for your mortgage financing right now gives you the time to get all of your personal finances in order.  Your mortgage lender can help you with any credit report errors that might need to be corrected.  You will also have a very solid idea of your purchase price range so that you can take the next step and begin to look at homes for sale online.

#2.  Start Looking At Homes For Sale Online Right Now

Starting to look at homes listed for sale right now online will give you a great opportunity to check out different styles of homes and in general will give you  an idea of how much home you will be getting for your money.  You can search for both condos for sale and single family homes for sale and decide which one seems the best fit for you.

#3.  Select Your Area or Areas That You May Want To Search For Your New Home In

By looking at homes for sale online you can select some favorite homes and then you can set out to see if  you like the areas they are in.  Are the neighborhoods these homes are in a good fit for you?  Drive through them and different times of the day and on weekends.  Are you looking for an area or neighborhood with alot of children?  Drive the neighborhood looking for playsets in backyards and drive through these same neighborhoods at school bus times, that will show you how many kids there are.  Get details on the communities and schools that you are interested in.

#4.  Call A Realtor

Yes, it is now time to get to it.  It’s time to actually hire a Realtor to represent you as a buyer’s agent in the purchase of your home.  Select your agent carefully.  Selecting the right real estate agent can make the home buying process fun and hassle free.  Your agent should be experienced in the areas and price ranges that you are looking in.  You also need to be a good fit personally with your real estate agent, you are likely going to be spending a good deal of time with them for a while.

You are now on your way to buying your new home at today’s low interest rates and at these very low home prices.  If we can be of assistance to you in your home search please feel free to contact us using the form below or call us at 513-874-1830

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    Filed Under: Buyers, Eric Lowry's Articles, Financing Tagged With: 1st time homebuyers, Buying A Home, Community Information, Eric Lowry, home buying, Interest Rates, Keller Williams Realty, low interest rates, LowryTeam.com, mortgage lenders, Mortgage Preapprovals, School Information, Search Homes For Sale, Search The MLS, Top Real Estate Agent, Top Selling Realtor, VIPHomeFinder.com

    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

        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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