Category Archives: Client Help

How to Calculate Mortgage Payments

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How to Calculate Mortgage Payments

It is important to calculate your mortgage payments to understand exactly what you owe and how your loan is being paid down. The easiest and least time consuming is to use a Mortgage Calculator. Ask your Realtor if they have one available or check out the option below.

You can use the mortgage calculator to help determine how much you can afford and to even see the the effects of adding extra payments and how it will effect the payoff date! This is a convenient tool to help you pay off your loans.

Just click on the link here and enter in your mortgage amount, the term or length of your loan, the interest rate, and the date your mortgage starts.

The calculator then shows you what your monthly payments would be.

To determine what it would look like to add extra payments a month, a year, or even as a one time extra payment you can add them in the next section.

By calculating the one time payments on top of your regular calculated monthly payment you will be able to see how your pay-off date can change.

Check out the mortgage calculator to find out what you can afford and to help you determine if making extra payments can change your payoff date!

Tips for Spring Buying

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Tips for Spring Buying – Warmer weather means the return of more than just the sun and the flowers-it’s also the high season for the real estate market. It’s a great season to buy a home, since the weather is good for moving and for home improvement projects. However, since spring is the busiest time to purchase a new home that means that there is a great deal of competition among prospective home buyers. It’s important to be prepared for purchase before you begin your search for a new home. Below are a few tips to get ready for the buying process. Happy buying!

  • Set your budget. Your first step should be to decide how much you can afford to spend on a new home. Besides your asking price, also take closing costs, montly mortgage payments, a down payment, moving and other expenses into consideration. The Mortgage Bankers Association recommends that buyers spend no more than 2.5 times their income on a home. Total housing payments should not exceed 28 percent of your gross income, and total debt payments should be less than 36 percent.
  • Make a list of must-haves. What does your new home absolutely need to have? What features are negotiable and what are not? Research these now to save time when you’re searching.
  • Find a good real estate agent. A real estate agent can often give you valuable information that may not be available to you otherwise and help you find a home with all of your requirements within your budget. Ask friends and family for recommendations, or check online.
  • Get your mortgage pre-approved. Discuss your options for a mortgage with several lenders and choose the rate and terms that are right for you. This way you’ll be able to act quickly once you find a home that you love.

Keep these tips and mind and when spring hits you’ll be ready to find your new home!

Pros and Cons of FSBO

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Pros and Cons of FSBO – Once you’ve deciding to sell your home, some choose to work with a real estate professional and some choose to sell “For Sale By Owner” or FSBO. Ultimately, you don’t have to sell your home using a real estate professional but there are definitely pros and cons of selling your home FSBO. Here are a few to help you decide the right path for you…

Pros of Selling a Home FSBO:

  • Save Money – You won’t have to pay 2 real estate agents. Instead you will only be in charge of paying the agent of the buyer unless you work with the buyer directly.
  • You Are In Control – You can control how your home is staged, marketed, when you show the home, etc.
  • It’s Your Home – You know the home better than anyone. You can point out the amenities and items in the home like no one else.

Cons of Selling a Home FSBO:

  • No Help – Without an agent, you are in charge of marketing, pricing, showing, staging, negotiating, finding a buyer, doing the paperwork, etc.
  • Pricing – This is a touchy subject. Too high and you lose interest. Too low and you lose money. Real estate pros know the strategy and how to negotiate the best price for you and your home.
  • Less Visibility – This is what real estate pros do. They have a marketing strategy for your home to get you the most exposure and to target the right buyers. Without the right marketing you have less visibility.
  • Contracts – Real estate pros tell you what you need, what it means and handle the leg work for you. When you sell a home FSBO, you can get that info from a title company or an attorney but you will still most likely pay a fee for that information.

There are pros and cons to every situation. It won’t hurt to interview a real estate professional to get your questions answered and to see which route is best for you. It’s important that when you want to hire a real estate agent that it’s the right one. We recommend you interview a few to find the right one for you.

 

How Do Interest Rates Affect my Ability to Buy a Home?

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How Do Interest Rates Affect my Ability to Buy a Home? Many factors can affect your ability to buy a new home, it just depends on each individual home buyer and situation. Interest rates can have an immense effect on any given person’s ability to buy a home, and home loan interest rates have been increasing recently. Here are some ways you might be affected by interest rates, and some ways you can act on it.

Home loan interest rates have been rising in the recent past, and this can affect the home loan you can qualify for. You might not be able to take out as significant of a loan if the interest rates are higher than you expected. This, in turn, can affect the type of home you can afford.

The higher cost of money, or interest rates, leaves you with several options when you’re searching for your new home. If you’re a homebuyer, you can alter your search terms, and look for houses that will be less expensive and more affordable for you in this situation. If you’re a home seller, you might consider lowering the cost of your home, or the buyer will have to pay higher monthly payments. If the buyer cannot make higher monthly payments, they ultimately will not be able to afford this particular home.

Due to these rising interest rates, more buyers are being forced out of the market because they cannot afford the cost. What does this mean for sellers in this market? Well, they won’t be able to sell their homes at this cost. With little competition, you will either need to take your home off the market, or sell your home at a significantly lower value.

If you are serious about buying a home, there will be no stopping you. Interest rates affect everyone and each situation is different; however, there is often a solution if you work with your real estate professional, who has knowledge of the area and market..

To learn more about how interest rates affect your ability to buy a new home, visit here.

Why Should Someone Choose Rita As Their Realtor?

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Why Should Someone Choose Rita As Their Realtor? Buying or selling your home is a huge task. Whether this is your first time, or you’ve done it a million times, a little help from a professional can always help you in the best possible way. Rita Boswell prides herself on the communication she has between herself and her clients. She’s an expert on residential real estate sales and listing, single family homes, condominiums, distressed properties, short sales, downsizing, relocation, and working with buyers and sellers. She is a great resource when it comes to the real estate market, and you can always expect honesty and integrity from her – something that isn’t true for every agent you work with in your lifetime.

About Rita

Rita may not have started her career as a real estate professional; however, that has been a great benefit and has given her a broad background and set of skills that not many professionals have. She began her career as an accounting and support operations manager, where she learned business skills that she applies to her life in the real estate business today. As a native of central Ohio, she is familiar with the area and can provide the best possible advice to buyers and sellers.

Location

Rita’s office is located in the heart of Worthington, Ohio. She serves a number of communities surrounding central Ohio, including: Clintonville, Delaware, Dublin, Gahanna, Galena, Hilliard, Lewis Center, Powell, Sunbury, Upper Arlington, Westerville and Worthington. Working and living in the area gives her an extra advantage when it comes to being a great resource for her clients. Her knowledge digs deeper than the surface, making her a reliable and trusted real estate professional.

What she has to offer

Rita has plenty to offer to individuals and families who are looking to buy or sell their home. Not only does she have extensive knowledge of the real estate industry, but she is familiar with the ins and outs of central Ohio, and keeps your best interest at heart as a homeowner. Her listings range from condos to single family homes to rentals and everything in between, and she works to ensure that her clients are happy and satisfied with their home in the area.

 

To learn more about Rita, and all of the wonderful things she has to offer that will help you sell your home and find your next home, visit here.