Columbus Loans & Home Mortgages

The end is near! In a little more than a month, on November 30, 2009, one of the best ever incentives to buy Columbus houses will expire. The federal tax credit is a true gift from the government for first time home buyers to get a refund 10% of the purchase price (up to $8,000) on [...]

At the end of last week we received an email from our favorite loan officer. She told us that FHA changed guidelines for minimum credit scores required to ensure loans. Until now it was still possible to get Columbus loans with credit scores as low as 580. Fifth Third Bank was one of the few [...]

When you finance a HUD Home with a Columbus home mortgage, the government gives you many incentives. Most incentives require FHA financing. This means that you will have to move into the house, so you can’t buy it as an investor. 
Most HUD listings are in contract very quickly.  You really need to move quickly, if you are [...]

Most people know that their payment history has an effect on their credit scores.  There are several other factors that affect your credit score when you apply for Columbus loans.
Here are 5 interesting facts about credit scores that may surprise you:
1. Income: Your income level has no bearing on your credit score, but it will determine [...]

A few days after the economic stimulus bill President Obama signed the so called Homeowner Affordability and Stability Plan with the goal to stem the flood of foreclosures and keep home owners in their houses.
Here’s how the plan is supposed to work: It should allow homeowners who are not behind in their mortgage payments refinance [...]

Modifying a mortgage loan has become much easier since the implementation of the Obama administration’s loan modification plan.  This plan provides incentives to lenders to change the terms of an existing loan to make payments on Columbus houses more affordable to homeowners.  In the past, getting a mortgage modification was far more difficult, since lenders [...]

Less than a week ago President Obama signed the American Recovery and Reinvestment Act of 2009 in law. It is more commonly known as the economic stimulus bill. For first time homebuyers it contains a $8,000 tax credit which could mean real cash in your pockets, if you buy a Columbus House.

Here is how it [...]

When subprime loans disappeared in 2008 home buyers found alternatives with government secured loan programs. The Veterans Administration (VA) and the Federal Housing Authority (FHA) have replaced subprime lenders when it comes to zero down financing and low credit score qualifying.
VA and FHA loans are especially effective in when you want to buy a HUD [...]

A week ago we had another “no money down” closing. The buyer was an Iraq veteran who purchased a 1700 sqft home on a lake right here in Ohio, with almost no cash out of his pockets. Many different Columbus loans are available, but VA loans are simply the best. The Veterans Administration takes care [...]

Yesterday was a great day on Wall Street. The Dow gained almost 500 points.
Earlier in the day the government announced its plan to deal with so called toxic assets. These are basically home loans on homes in default, which banks can’t sell on the secondary market, i.e. to other banks or investors. We all know that [...]