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Mortgage Interest Rates In West Chester & Mason Ohio

October 7, 2012 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 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.

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

August 21, 2012 by Eric Lowry Leave a Comment

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

Other articles that you may find interesting:

This Month In Real Estate – July 2012

Searching Mason Ohio Homes For Sale

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

March 6, 2012 by Eric Lowry Leave a Comment

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

This Month In Real Estate for West Chester, Liberty Township and Mason Ohio real estate covers getting your home sold sooner than the competition and today’s continuing low interest rates.

Interest mortgage rates continue to hover in the range of 4.00% providing for great opportunity to lock in interest rates on the purchase of a home, that may not present themselves again for many, many years.

Getting your home sold a month sooner than the competition. Home owners that priced their home based on their agent’s recommendation of a list price sell almost twice as fast and for more money than their competition. As for the strategy of starting high with the price… Yes, the buyers can always amke an offer, you just need to make sure it’s on your home.

Mortgage Interest Rates In West Chester & Mason OH – December 2011

December 9, 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~~ 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 seems like in West Chester and Mason Ohio that we have seen the lowest levels and that interest rates may likely begin to edge a little higher as we get into the new year a little ways. We certainly don’t expect large jumps in interest rates soon, but an upward trend seems likely. 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, Ohioright 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.

What’s The Best Mortgage When Buying A Home?

December 6, 2011 by Eric Lowry Leave a Comment

What’s The Best Mortgage When Buying A Home?

Are you planning to buy a home in West Chester, Liberty Township, Beckett Ridge or Mason Ohio in the near future? If so, then you will likely need to get a mortgage. There are a number of options available in the home mortgage market today and some of these options may be better for you than others. The following is a brief summary of many of the options for home loans in the West Chester, Liberty Twp,. Mason and Cincinnati Ohio areas:

30 Year Fixed Rate Mortgage: This one is the “old stand by”. The rate is currently very low (approx. 4.25%) right now, although it is higher than some of the other options. The best part of this mortgage loan is that the interest rate doesn’t change for the life of the loan.

15 Year Fixed Rate Mortgage: Same basic premise as the 30 year fixed rate mortgage loan except the payback is calculated on 15 years so the interest rate is lower (around 3.50% today). This mortgage loan is great for building equity quickly, but does come with a higher monthly payment.

Adjustable Rate Mortages: These mortgage loans are mostly based on a 30 year re-payment schedule, but the interest rate may be fixed for just the first 3 or 5 years of the loan and then adjust from there based on market conditions. These mortgage loans will get you the lowest possible rates (2.45% – 2.65% today) and will work especially well if you only plan to be in your home for 3-5 years.

FHA Loans: An FHA mortgage loan is a loan that is made by a bank or mortgage lender that is insured by the Federal Housing Authority (FHA) . This insurance of the loan provides for lower down payments, lower closing costs as well as less restrictive qualification criteria. FHA home loans are very commonly used by first time homebuyers. In the last couple of years many other homebuyers have also turned to the FHA home mortgage loan as a very good option.

Special note: The FHA Loan Limits were recently increased back up to the previous levels prior to the FHA changes made on October 1st, 2011. Congress raised the FHA loan limits in a bill passed on November 17, 2011. The current FHA Loan Limit in Butler County Ohio is $337,500.

VA Loans: A VA Loan is a loan that is made by a bank or mortgage lender that is insured by the U.S. Department of Veterans Affairs (VA). This insurance of the loan by the VA provides for loans with no down payments, provided the homebuyer is eligible for the VA Loan program.

Planning To Buy A Home Next Year?

October 26, 2011 by Eric Lowry Leave a Comment

Planning To Buy A Home Next Year?

If 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