Financing Archives

Low interest rates are keeping our market strong!

Posted by Mike Parsons
April 10, 2008 at 04:43 PM

Mortgage rates are the biggest factor in determining how much one can afford, so when rates are as low as they are today, you and I have incredible buying power. How low are they ? People who bought a home in 1963 were paying the same rate that is available today. A lower interest rate means you can afford more home. A lower interest rate will save you thousands of dollars over your lifetime. Financing is readily available for those with a steady job history and a suitable credit rating. Lower interest rates mean many first time buyers may finally be able to afford a home.
Call the Parsons Real Estate Group to talk about the advantages of buying a home today !

Central Ohio's Housing Market is Healthy and Stable!

Posted by Mike Parsons
at 03:29 PM

All real estate is local in nature, yet the media often quotes national trends and statistics. Central Ohio is a healthy and stable marketplace. Over 24,000 homes sold in Central Ohio in 2007. According to a Forbes.com report Columbus is the 7th most affordable place to live well. A Forbes and MoodysEconomy report called Columbus the 3rd most stable housing market in the country based on the strength of our economy,the affordability and availabilty of housing and the availability of the local credit markets. Home sales are affordable ! the average sale price of homes in Central Ohio continues to be considerably lower than the national average. 2007 was the 4th best housing market in history coming off the biggest housing boom in years 2003-2006. Home prices have a steady increase of 40% over the last decade. The chief economist of the National Association of Realtors considers Central Ohio undervalued. Housing prices are lower than what experts would expect . In Summary, The Grass is Greener here ! Call The Parsons Real Estate Group to buy or sell your next home !

Rates are Great!

Posted by Mike Parsons
February 01, 2008 at 05:46 PM

Interest rates have come down! Third Federal Savings and Loan's website offers their current rates. As of today, 2/1/2008, their 30 year fixed is 5.49% and their 15 year fixed is 4.9%. As you know, mortgage rates change every day. Many believe that rates still may come down more over the next couple months. These are the lowest rates we have seen in the last 50 years. This is a great time to refinance or purchase your new home. If you can think back to the 1980's many of us or our parents were still buying homes when rates were hovering around 15%. Under 6% sounds good to me.

You can view Third Federal's rates at View Rates

Remember these are rates for good credit borrowers with at least 20% down.
If you have less than 20% down payment to work with there are some very competitive programs out there but at a higher rate than the ones displayed.
Other great banks/lenders we have worked with are Dave Zambo at Park National Bank, Antonio Benton at Mid-American Mortgage Solutions, Natalie Moore at National City Bank, and Dave Dikeman at Homestead Mortgage.

Don't hesitate to email or call for any recommendations for using a bank to refinance or purchase a home. We work with many great banks and brokers everyday.