Homes for sale Cincinnati Ohio-Cincinnati Real Estate

Greater Cincinnati's Real Estate Connection

For Buyers Category

The Benefits of a FHA Loan

filed under: For Buyers posted on October 14th, 2015

Homes for sale Cincinnati Ohio-Cincinnati Real Estate

Today's home buyers don't always have enough money saved for a traditional down payment.  For buyers with less than 20% down available the benefits of obtaining a mortgage loan through the Federal Housing Administration makes buying a home affordable. The FHA allows mortgage loans with as little as 3.5% down at today's current mortgage rates. Why Use FHA Mortgage? According to HUD -FHA loans have been helping people become homeowners since 1934. How do they do it? The Federal Housing Administration (FHA) - which is...

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New Regulations on Loan Disclosures Coming in October

filed under: For Buyers posted on August 31st, 2015

(Thanks to Ticor Title for simple explanation) Buyers fasten your seatbelts as the government rolls out new regulations on loan disclosures in October. Are you ready for TILA RESPA Integrated Disclosure rule -TRID!  The newest twist from the CFPB (Consumer Financial Protection Bureau) aims to clear up any buyer misunderstandings about settlement charges. Anytime a new program of this magnitude comes online consumers and their agents should expect some delays in closings. More importantly buyers really need to understand the what it...

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The Final Walk Through

filed under: For Buyers posted on August 19th, 2015

Homes for sale Cincinnati Ohio-Cincinnati Real Estate

Buyers need to schedule time for the final walk through prior to closing in order to make sure the property is in the same -or better- condition as it was the day you signed the purchase contract.  The final walk through doesn't replace the home inspection, which should have happened within a couple weeks of buying the property.  By the time you are ready for the final walk through, repairs that were negotiated earlier should be completed (you should have...

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Ohio Bond Money and First Time Homebuyers

filed under: For Buyers posted on August 15th, 2015

Homes for sale Cincinnati Ohio-Cincinnati Real Estate

Good news about Ohio bond money and first time homebuyers.  The Ohio Housing Finance Agency ( OHFA ) First Time Homebuyer Program serving the greater Cincinnati area continue to offer competitive interest rates and programs. Credit score: The credit score for borrowers using OHFA's First-Time Homebuyer program must equal at least 640 or higher. The following fees may apply to your OHFA loan: .50% Origination Fee – Payable to Lender .25% Adverse Market Fee on Conventional Loans – Payable to US Bank (FNMA charge) $350 Funding...

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5 Things Buyers Need to Know About Homeowner Associations

filed under: For Buyers posted on August 7th, 2015

Homes for sale Cincinnati Ohio-Cincinnati Real Estate

The 5 things buyers need to know about Homeowner Associations (HOA).  Many communities built since the early 1980's have a HOA with rules and regulations governing the not only the "look" of the community as well as listing all the do's and don'ts for residents.  Many buyers assume that only condominium communities have HOA's and ignore their opportunity during the contract phase allowing review the documents covering their future neighborhood.  Most HOA's regulate the height of fences, restrict above ground pools,...

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