14 01, 2021

Should I Refinance my Home?

2021-09-28T16:49:41+00:00January 14th, 2021|Blog, Refinance|

Refinancing can be confusing. However, you can save money up front and in the long term if you refinance for a lower APR. Maybe you’re nervous that now isn’t the best time because you’ve heard different opinions on the economy, but now may actually be a great time to start.

columbus ohio refinance mortgage

The Federal Reserve Rates are Lower

The Fed doesn’t actually affect mortgages directly, but their actions do indirectly affect us. According to an article on bankrate.com, “the Fed will be keeping interest rates low for the foreseeable future. Fixed-rate mortgages are tied to the 10-year Treasury rate. When that rate goes up, the popular 30-year fixed rate mortgage tends to do the same and vice versa.”

Rates Have Been Lower

While the pandemic has put people in a panic, it has brought lower interest rates with it for home buyers. Taking advantage of these historically low rates is in your best interest as they are sure to rise over the upcoming months. 15-year mortgages are also at an all-time low which could be good news for those who have a 30-year mortgage that is highly paid off. A homeowner could refinance their 30-year mortgage down to a 15-year and save money PLUS play the loan off years sooner.

Similar Interest Rates Between Fixed and Adjustable Loans

An adjustable-rate mortgage usually has a lower interest rate at the beginning of the loan and then the APR changes with the rates in the market each year, usually increasing over time. Since 2020 brought many strange situations with it, it’s no surprise that this is showing in interest rate trends. A good amount of 30-year fixed mortgages are as low as the beginning rates those with current ARMs had. So, an older mortgage that is refinanced now […]

13 01, 2021

Moving During the Pandemic

2021-09-28T16:49:42+00:00January 13th, 2021|Blog, Tips & Advice|

We previously covered general home cleaning to prevent coronavirus from spreading but what if you have to make a move during the pandemic? While most people are trying to wait to buy a home until there is some progress with the virus, the fact is, some people are taking advantage of lower interest rates and accepting new positions which means waiting isn’t in the cards. While moving during the pandemic is perfectly doable, it does come with some additional risk. The best piece of advice is to minimize your contact with others and to disinfect as much as possible.

Preparing to Move

Before moving, plan out each step to avoid unnecessary trips out and unnecessary contact with those outside your home. Since COVID-19 has been reported to live on surfaces for up to 72 hours, we encourage you to disinfect items and packing materials as you go and have packing done AT LEAST 24 hours in advance for everything that’s not a daily necessity. Additionally, try to buy packing materials and any necessary cleaning supplies at the same store to limit time outside the home and in different stores.

Hiring Movers

If possible, moving yourself would be best to limit exposure to COVID but sometimes that can’t be done and movers are needed. Your packing and cleaning as you packed will help protect the movers and most moving companies are following local and state regulations to protect you as well. Since people may not be moving or using movers, most companies will take extra precautions to protect you and your family and ensure your business.

Moving In

Be sure to use disinfectant in your new space. You will want to do as much cleaning before you unpack as possible. Remember to […]