First Ohio Home Finance is proud to announce that we were a Platinum Level Sponsor for Columbus Mortgage Bankers Association‘s 3rd Annual Build-A-Bike event! Here at First Ohio, we truly enjoyed being involved in the community and look forward to helping others. We were able to build 32 bikes for the Boys & Girls Club here in Central Ohio. Overall it was a great event and we look forward to next year!
Buying your first home is a huge milestone! You should be extremely proud of yourself for getting to that point in life. The process may seem overwhelming at some points but here at First Ohio Home Finance we want to make it easier for you. Let’s take a look at common mistakes made by first-time homebuyers and figure out how to avoid them.
- Renting or buying. The first mistake people make it when they casually start looking for homes online, then fall in love with a home and are unsure whether they can afford it or not. It is important to sit down with a financial advisor, real estate agent, housing counselor or lender to decide if buying is the right thing for you or if renting for another year or so in order to save up more money.
- Looking at home out of your price range. Getting pre-approved before you start shopping for a home is a great way to avoid buying a home you cannot afford. When you get pre-approved, your lender will look at 2-s, tax returns and pay stubs which will determine how much you can afford and what range of prices of homes to be looking at. Learn more about pre-approval here.
Learn the Process
The more you know, the more confident you will feel about the process. First-time home buyers should spend some time researching the process of buying a home, the different types of people you will be working with and the different loans types before diving too far into the process.
Get Professional Advice
Give us a call! That is what we are here for, our Loan Officers are extremely knowledge, informed and want to help you make the right decisions. We can review your current […]
Inspection day is a very exciting day for home buyers. It is likely the first chance you will have to go inside the home since you made the offer. It is usually the last chance that you will have until a final walkthrough. But most importantly, it is your chance to make sure you know what you are getting yourself into when it comes to the condition of the home. You can experience many different emotions all at one time.
Home inspections not only provide you with a list of problems, but you also want to negotiate with the seller to fix some of the problems or you could even back out of the dealer altogether. It will provide you a detailed report that is something of a “new owner’s manual” for the home. This will also include tips and a schedule of when everything needs done next.
Finding an Inspector
It is important to find a professional for the job. You can find an agent through Zillow’s Agent Finder Tool, this gives you a chance to check out their online reviews and make sure they are someone you can trust to get the job done right. It is vital to be clear on what exactly is and isn’t included in the inspection price. Most inspectors are in a similar range of $300-500 and may fluctuate in price to pay for the inspection that you get. Early in the home buying process start researching inspectors and have at least a couple in mind, especially if the market is busy. You’ll need to be sure you can get an inspection scheduled within your contract timeline as well!
You should plan on being there and your agent should be […]
Everyone loves fall. The leaves are changing, the temperatures start dropping, football season, pumpkin flavored everything, are some of the reasons why fall is so lovable. One of the other awesome things about fall is the housing market slows down, which is good news for buyers. There are a couple reasons why fall is a good time for home buyers, let’s take a look at some.
- Less competition. As summer comes to an end and the school year starts up, there are fewer families who want to move because they do not want to have their children change schools or school districts during the middle of the year. This is one of the reasons why competition for buying homes drops off in the fall. Fall is considered to be off-season realty. Don’t be discouraged by that though, in some cases there is just as much inventory in the fall as there is in spring and summer. This puts you in a great position to negotiate especially because some sellers will definitely want the move and sale to happen before the holidays.
- Sellers are worn out. Sellers that still have their homes on the market during the fall might have priced their homes higher than what buyers have wanted to pay in the spring and summer months. After months of no actions, these sellers are often ready to make a deal. Sellers are going to be worn out after months of work. They are likely to take a smaller offer rather than wait another six months for spring to be back around.
- Sellers means business. Just because a home is on the market in the fall doesn’t necessarily mean that […]