Eight One Three Broadway Condominiums in Downtown Cincinnati are Ready for Preview

May 19-20, 2018 – Sibcy Cline Super Open House Weekend!

Sibcy Cline Super Open House WeekendThe weekend of May 19-20, 2018 is going to be a great one for home buyers: it’s a Sibcy Cline Super Open House Weekend. Look for may Sibcy Cline listed properties to be held open for preview. Mark your calendar now!

Look at homes for sale throughout Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana.

How to Get Ready to Buy Your First Home

花火8When preparing to buy a home, it’s important for buyers to work with a real estate professional who can advise the best possible strategies for getting a mortgage and finding an affordable home. This partnership can make the real estate sales process go a lot more smoothly.

Perhaps the most important part of getting into the housing market for the first time is to do as much homework as possible before diving in. That means first determining what homes in a given area are selling for, and what that cost would mean in terms of monthly mortgage payments, mortgage insurance, homeowners insurance, property taxes and so on. Closing costs should also be considered.

A Strong Financial Profile
Buyers not only need to have savings available to make a sizable down payment, but  have the ability to afford the long-term cost of a home on an ongoing basis. Having a strong credit score will not only result in a good rating and unlock mortgage availability, but will also bring down mortgage rates (and thus the cost of a home.)

Additionally, larger down payments will reduce the principal of the loan. When buyers combine a high down payment (preferably in excess of 20 percent) along with good credit, they may position themselves to save tens of thousands of dollars over the life of their loans.

Keep in Mind
When trying to determine how much home buyers can afford, they should try to remember a few basic rules of thumb about housing costs. Generally speaking, experts advise that a mortgage payment should not cost more than one quarter of one’s monthly income. While there may be a little bit of wiggle room here, this is a good anchor point at which to set expectations for affordability.

Of course, some home buyers may have their sights set on properties that are more expensive than they can currently afford, especially with the way prices are rising in today’s market. This simply means they will need to put in more work to improve their credit score (to get a better rate) or put more into savings (to increase the size of a down payment).

Working with a real estate professional will help buyers truly understand what they should be looking for in the market and how they can best approach their home-buying efforts.

Interested in becoming pre-approved for a mortgage loan? Start with Sibcy Cline Mortgage Services.

Brought to you by HMS Home Warranty. HMS is an industry leader with over 30 years of creating success for clients and providing peace of mind for customers.  To learn more click www.hmsnational.com

First-Time Buyer? Tips to Follow to Get Pre-qualified for a Home

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It is important for first-time home buyers to know the best ways to navigate the mortgage market. Taking time to better understand the real estate sales process and how to qualify for the best possible mortgage terms will go a long way in reducing stress. Plus, getting the right type of home loan could save a buyer tens of thousands of dollars over the life of the mortgage.

Get Pre-Approval
One of the smartest things inexperienced home buyers can do to make themselves eligible to buy a home as quickly as possible is to get pre-approval on a mortgage. Your loan officer will be looking for the best type of mortgage loan to meet your needs with the lowest rate possible. A pre-approval helps the first-time home buyers better understand the true cost of homeownership: beyond the mortgage payment there is the cost for mortgage insurance, homeowner’s insurance and property taxes. Plus, with pre-approval, an offer on a home is taken more seriously by the home seller. 

Down Payment
The larger the down payment buyers can put together, the better off they will be going forward. This will not only increase chances of qualifying for a mortgage in the first place – and in doing so, getting a better rate – but also reduce their payments going forward, making homeownership more affordable. In some cases, it will also eliminate the need to pay private mortgage insurance altogether.

Work on Your Credit Score
It is also important that potential buyers
make sure their credit is up to snuff before they even think about actually applying for a mortgage. The higher an applicant’s credit score, the more likely to get approved and lock in a low rate. However, that may mean months of work to improve the financial conditions that go into a credit score, including paying down outstanding credit card balances and keeping up with all payments. (When you are buying a home it is really important NOT to make large purchases such as furniture, appliances or a new car. These type of purchases are reported to credit bureaus and can add a blemish to your credit.)

Save Money
At the same time, it’s important for new home buyers to make sure they’ve put aside additional savings to help cover closing costs and other expenses that typically crop up after moving into a home such as additional furnishings and unexpected repairs. Keep in mind that property taxes can rise. 

Talk to a Loan Officer and Real Estate Agent
Be sure to meet with a loan officer and real estate professional for guidance and valuable advice on how to proceed in the market and get the best possible deal out for your home purchase.

Brought to you by HMS Home Warranty. HMS is an industry leader with over 30 years of creating success for clients and providing peace of mind for customers. Learn more here.

 

 

It’s Time Again for a Sibcy Cline Super Open House Weekend April 21-22, 2018

FBAd_1200_628_April2018_SuperLooking to a buy a home? Plan on attending an open house or two during the Sibcy Cline Super Open House Weekend on April 21-22, 2018. There will be some great homes to see throughout Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana.

Look at homes for sale.

Why buy and sell a home now?
Home values have risen. Mortgage interest rates are low. Now may be the best time for you to sell your old home and find a new one to meet your needs!

Sibcy Cline Super Open House Weekend – March 17-18, 2018

FBAd_1200_628_March2018_Super.jpgSibcy Cline agents are holding a Sibcy Cline Super Open House Weekend on March 17-18, 2018. There will be lots of great homes to see throughout Cincinnati and Dayton, Ohio; Northern Kentucky; and Southeastern Indiana.

Look at homes for sale.

It’s a great time to sell and buy a home! Mortgage interest rates remain low. Home values are rising. Now may be the right time for you to sell your old home and find a new one to meet your needs.

Tips to Help You Prepare Financially to Buy a Home

House_Money.jpgWith the spring home-shopping season right around the corner, potential buyers are encouraged to begin preparing their finances. Working with a real estate professional will provide the proper guidance for home buyers to be prepared at to what is expected during the buying process (especially with a competitive seller’s market).

Homeownership is a dream shared by millions of Americans, but it’s not always easy for those with little or no experience in buying a home. One of the most important aspects of readiness for homeownership is having the money to support that home purchase.

Where to Begin
It is important for potential home buyers to eliminate as much debt as possible prior to buying a home. The debt-to-income ratio is often the biggest issue a lender will look at because would-be borrowers are about to add hundreds of thousands of dollars to their obligations. Generally speaking, home buyers should pay no more than 28 percent of their gross monthly incomes for their mortgage bills, and if a big chunk of that income is already going to other debts, lenders are unlikely to approve an application.

Hopeful buyers should also determine just “how much house” they can afford based on available properties in their areas. A buyer’s real estate agent or mortgage loan officer can provide that information.

Laying the Groundwork
Once the research and financial analysis has been completed, it’s time to think about credit standings and ability to make a sizable down payment. These two issues often go hand-in-hand with debt-to-income ratios because less debt means more money can go into savings as credit scores naturally start to rise. Usually the larger the down payment, the better the mortgage deals home buyers are likely to get, both in terms of getting approval on an application and lowering the ongoing costs associated with a home loan (i.e. lower interest rates and no requirement for mortgage insurance).

In addition, home shoppers will have to start putting together all their necessary financial documents that are typically associated with the mortgage process. These include pay stubs and bank statements – to prove income and savings – as well as tax returns for at least the past few years and other supporting documentation that lenders will use to verify claims made on a mortgage application.

It’s strongly encouraged for would-be buyers to get pre-approval on their mortgages, rather than house hunting first because that will help them expedite the bidding process

Need to be pre-approved for a mortgage loan? Contact Sibcy Cline Mortgage Services.

Brought to you by HMS Home Warranty. HMS is an industry leader with over 30 years of creating success for clients and providing peace of mind for customers. To learn more click www.hmsnational.com.