Hot mortgage products in Ohio

Grants

Homebuyers in need of down payment assistance in Ohio have 2 grant programs available that offer up to 5% in down payment and closing cost assistance.  The programs are available with both conventional and FHA purchases.  These are not limited to first time homebuyers so even if you have owned a home in the past 3 years you can still qualify.

3% down purchase options

If you’re looking for a low down payment option with conventional financing we offer 3% down payment options.  Unlike FHA there is no upfront mortgage insurance.  The program offers discounted monthly mortgage insurance options to borrowers.

Bridge Financing

I today’s hot real estate market a huge concern for home sellers is the whether they can find a new home to purchase.  We offer bridge financing for just this situation.  The bridge loan offers clients the opportunity to pull existing equity from their current home to use as a down payment for the new property while lowering their existing mortgage to interest only payments for up to 12 months.  With this option buyer have funds available for their down payment of the new purchase and can make purchase contracts that are not subject to the sale of their existing home.  This offers the best possible solution to ease a hesitant buyers mind.

80/10/10 loans

If qualifying with both current mortgage payments is not a concern I can also offer a great 30 year fixed rate purchase loan and a home equity line of credit up to 89.9% of the new purchase price.  This allows homebuyers to get the perfect fixed rate financing and a flexible line of credit that can be paid down once they sell their existing property.

Non-Conforming Condominium loans

Non-Conforming or Non-Warrantable Condominiums are complexes that may not meet guidelines set by Fannie Mae / Freddie Mac / FHA.  For qualified first time buyers or properties located in certain census tracts we offer 30 year fixed rate financing with 5% down payment and no mortgage insurance.  This program offers better than conventional rates and can be easier to qualify for since there is no additional cost for mortgage insurance.

Not sure of the right loan? I am happy to share my 21 years’ experience in the mortgage industry to address your needs or questions.

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