mortgage tips and advice

Columbus Home Buyers Could Find Mortgage Approval Tougher

Columbus home buyers could be surprised by loan denials in the wake of quickly-changing mortgage guidelines. The economic impact of COVID-19 is causing lenders to raise credit requirements nearly across the board. The evolving underwriting...

Mortgage Pre-Approval Remains Essential for Columbus Home Buyers

Quick! How much home can you afford to buy? The answer might seem simple, but it isn’t! Columbus home buyers need to understand the difference between a mortgage pre-approval, and a mortgage pre-qualification. A mortgage...

Home Buyers Should Compare 30-Year and 15-Year Mortgages

For most Columbus home buyers, the 30-year, fixed-rate mortgage is the loan of choice. The long repayment period makes home ownership more affordable, enabling you to buy more home for the money. But before you...

What Columbus Home Buyers Should Know About Mortgage Escrow Accounts

When you buy a home with less than 20% down, your mortgage company will usually require an escrow account for your property taxes and homeowner’s insurance. Your home is collateral for the mortgage debt, and...

Mortgage Pre-Approval Can Fall Flat on Home Buyers

A couple of our Buyer-Clients recently experienced a last-minute problem with their pre-approved mortgage. They came to us with a pre-approval in hand from a reputable lending institution, though the actual loan officer was someone...

Home Buyers Carrying Heavier Debt Loads

How much debt would you be willing to carry to achieve home ownership? For an increasing number of home buyers, the answer is nearly half of their monthly income. According to a recent report by...

Mortgage Market News Encouraging for Columbus Home Buyers

If you’re buying a Columbus home this summer, there’s good news: mortgage interest rates are behaving themselves. In fact, according to Freddie Mac’s weekly mortgage survey as of June 8, 2017, rates on 30-year fixed...

Mortgage Process Could Get Easier for Columbus Home Buyers

The next time you buy a Columbus home, the paperwork for your mortgage could be a bit easier, thanks to changes in Fannie Mae requirements. The government-sponsored entity, which secures a high percentage of U.S....

Ignorance Isn’t Bliss When Buying a Home!

Two interesting articles caught our eye this week. The first, from industry publisher Inman News, suggested that some people aren’t buying homes because they fear being rejected for a mortgage. According to an industry survey...

Mortgage Opportunity Improves for First-Time Home Buyers

First-time Columbus home buyers may find mortgages easier to obtain, thanks to changes in lending guidelines by Freddie Mac and Fannie Mae. The new mortgage programs allow down payments as low as 3%, and will...