1018 Westchester Way, Union Twp, OH 45244

Listing ID 1552437

Price: $375,000

4BED| 4 BATH (2 2)|0.550 AC

Immaculate 4 BR with tons amazing features.11×9 renovated laundry room/mudroom with custom built in’s & slate flr,wide plank hardwood flrs main lvl,new carpet on 2 flr,new patio/fire pit in bckyrd 2016,New hardware & fixtures throughout including all LED canned lighting.Privacy abounds large double lot-Relax on your backyard patio w fire pit & no rear neighbors.  

Kevin Duffy
513-602-6000
Kevin@DuffyRealtor.com
 
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Calculating Your Closing Costs!

Your Closing Costs—Worksheet for Calculation

Estimated Purchase Price……………………………………………………………………………………..

Costs Related to Purchase of Home

Homeowners’ title insurance……………………………………….

Flood certificate, if applicable……………………………………….

Fire-insurance premium for first year…………………………..

Reserve account for real estate taxes…………………………..

Reserve account for insurance……………………………………..

Interest on new loan from closing – to end of month……..

Document preparation fee…………………………………………..

Recording fees……………………………………………………………..

Half of escrow fee………………………………………………………..

Loan-origination fee…………………………………………………….

Homeowner association dues, if applicable…………………..

Home warranty, if applicable……………………………………….

Assumption change-of-records fees, if applicable…………

Home inspection (typically paid outside of closing)……..

[Other expense]………………………………………………………….

[Other expense]………………………………………………………….

[Other expense]………………………………………………………….

Subtotal Estimated Expenses………………………………………………………………………….

Credits (or costs paid outside of closing)

[Credit]………………………………………………………………………

[Credit]………………………………………………………………………

[Credit]………………………………………………………………………

[Credit]………………………………………………………………………

Total Credits……………………………………………………………………………………………

Estimated Cash to Bring To Closing……………………………………………………………

Getting Pre-Approved!

It is extremely important that you connect with a qualified lender. We can recommend lenders who have earned our trust and with whom we’ve had good experiences in the past. The lender will review your financial position to determine the price most suited to your ability to pay and your comfort level.

The Pre-Approval Process will help you in the following ways:

>You will know in advance what your payments will be.

>You won’t waste time considering homes you cannot afford.

>You can select the best loan package without being under pressure. There are many options and programs to choose from in today’s market. Your lender will explain the alternatives to help you select the one best suited to you.

>Sellers will find your offer to purchase more favorable if they know in advance of your ability to secure financing. This will make your offer more competitive if you are in competition with other offers. Nowadays, most listing agents require a pre-approval letter to accompany all purchase agreements.

>You’ll have an estimate of your closing costs and we will explain them to you in detail.

>You’ll have peace of mind.

Best piece of advice!

Take the pre-qualification one step further and get a full loan approval. This is the best approach!

30-Year Fixed Mortgage Rates Are Falling, But Are Still Above Record Low

DiaryAlthough mortgage rates are still above the record lows, 30-year fixed mortgage rates are decreasing. These rates do vary state by state. Fifteen-year fixed mortgage rates fell as well this week, as did 5-1 adjustable rate mortgages. Georgia’s thirty-year mortgage rates were the lowest, at 5.32%. At this time last year the average rate for a thirty-year fixed was 6.37%. The average rate this week was 5.2% – not quite as low as the record low of 4.78% from early spring. Rates rose this past June due to the yields on long-term government debt climbing; investors became concerned that large amounts of extra government debt would trigger inflation. Experts speculate that mortgage rates fell this past week from market concern due to the weakening labor market. Keep in mind that the above rates do not include the add on fees called “points”. The average nationwide fee for a 30-year fixed rate mortgage and 15-year fixed rate mortgage averaged 0.7 of a point, while 5-1 adjustable rate mortgages averaged 0.6 of a point.

For more information on mortgage rates go to Zillow.

The Best Way To Get Your Mortgage “Modified”

Home on the hillIf you are finding yourself in a position where you are having trouble making your mortgage payments, you may be able to ask your borrower for a modification. A refinance is more advantageous but if you are ineligible due to inadequate income, a low FICO score, have little or no equity in your home or are behind in existing payments, a mortgage modification may help you. Here are some things to know as you begin the process:

  1. Answer all of the questions on the servicer’s questionnaire. If they do not get answers to all of their questions, they may decide not to help you based on the inadequate information they have received from you. 
  2. Answer all of these question as accurately as possible. Many of these questionnaires are not borrower-friendly, so if you need help answering a question ask for it. The servicer could reject you based on not receiving enough information.
  3. Many servicers prefer you to fax all of your information to them, although some still accept it by mail.
  4. When you do fax information, make sure it gets to the right person by labeling each page that you fax with your name and mortgage number in bold at the top of each page.
  5. To avoid being overlooked for a “special program” such as “Fast Track Solution” and (MHA) program, be sure to include the reason why you believe you may be eligible in your hardship letter.
  6. Due to the large number of folks in need of mortgage help, the number of people hired to do these transactions has greatly increased over a very short period of time. Hence, these servicer employees are very likely newly trained and are doing much of the work manually. It can’t hurt to stay on top of them by calling them to follow-up on your loan.

For more information go to MHA program  or for information on the ”Fast Track Solution” go to Wells Fargo.

If You Are Concerned About Your Credit Score, This Information Could Help You Improve It

Hand holding blank cardIf you are concerned about your credit score, there is new information about what credit scoring companies deem important. One change that is being made is that there is a significantly more negative importance on a person that carries their credit balance near the limit. Experts are suggesting that people try to keep all balances owed near 30% of available credit. Another important fact is that you should never close an account with a zero balance. If you close the account, it can alter your total Debt to Credit ratio. It works in your favor to have a long credit history. Also, do not apply for too many credit cards, especially from companies that do not set a spending limit.  To raise your score, always pay your debts ON TIME. Your payment history makes up 35% of your score. A late payment can actually drop your score by up to 100 points and these late payments could last on your report for seven years. Bankruptcies last for ten years. If your score is below 620, people assume you are a bad risk dooming you to credit denial, sub prime interest rates, higher home insurance premiums, and possible checks form landlords withholding a lease.

To order a free report go to annualcreditreport.com.

A Question Many People Are Asking Themselves: Should We Refinance?

Front Door of Brick HouseWhen refinancing your mortgage, you must look at the big picture to see if it really makes financial sense for you. Since rates are at an all time low, many people are considering it. Here are some ways to help you decide if it will benefit you or not.

If you have plans to pay off your mortgage in the next few years it makes no sense for you, as you will not be able to recover the re-financing fees in time. Same thing goes if you are planning to move in the next few years.

If you are planning to stay in your home for many years and currently have an Adjustable Rate Mortgage, then refinancing to a 30-Year Fixed is a very good option for you. Refinancing may not lower your monthly payments by all that much, but you may sleep better knowing that those payments will never go up.

Another good reason to refinance is if you are currently paying a very high rate. A very good rule of thumb is to calculate your costs and make sure that you can earn back the roughly $2,000 in fees that you will pay, within two to three years.

Two other things to consider are that if you are paying less interest over time, you will pay more taxes. Also, money that you pay in refinancing fees could be invested instead. Think of the return on that sum you could earn over thirty years!