There are lots of homes for sale and many good options for financing. Here are two that might be of interest.
1. Wells Fargo has a program for FHA/VA buyers that offer an interest rate is 6.5% for 30 years, but for the first year the rate is 5.5%. For example, on a $100,000 mortgage the payment for the first year would be $567.79, and then for the remaining 29 years the payment would be $632.07 (principal and interest only). The closing costs are approximately $1900. There is also down payment assistance money available for qualified buyers.
2. There is also OHFA (Ohio Home Finance Association) bond money available. There are two different programs. There are some income restrictions and mortgage limits.
Option one has an interest rate of 6.375%, 1% origination fee, you must put 3% of the purchase price down.
Option two has an interest rate of 6.875%, 1% origination fee plus either 2% or 4% grant funds available for down payment and closing costs
You can find out more about this program at www.ohiohome.org/homebuyer or by contacting Jamie Sutton at Wells Fargo Home Mortgage 614-880-9345
Contact the Jackson Team to help you navigate through the home buying process. Don’t miss out on a great opportunity for a most important investment!