Interest Rates November 2010

Historic Low Mortgage Interest Rates Make Buying a Home in Central Ohio More Affordable Than Ever

It is still a great time to buy a home in the Columbus Ohio area and historic low interest rates on home mortgages make it even more affordable than ever.  As we head into the Winter months, the Central Ohio real estate market tends to slow down, so you’ll find sellers very motivated to sell their home,  providing favorable conditions for home buyers.  I am seeing home sellers constantly reducing their listing price so I think you’ll see home prices continue to fall, through the Winter.  If you’re in a position to buy a home, buying now may be better than waiting until the busier Spring real estate market.

Columbus Ohio Mortgage Interest Rate Update November 1, 2010

Sue Reichard, Mortgage Loan Officer, with the State Bank and Trust Company, in Dublin Ohio, has some of the lowest interest rates and closing costs for your home mortgage loan, in Columbus Ohio.   The current interest rates are 4.125 percent, for the 30 year fixed interest rate and 3.375 percent for the 15 year fixed interest rate mortgage. The 5 year adjustable rate mortgage is all the way down to 3.0 percent. The State Bank and Trust offers some of the lowest and most competitive closing costs for a mortgage in Central Ohio.  Buyer closing costs on a single family home are $1475.00.

If you are considering refinancing your current home mortgage, State Bank does not make the borrower get another title insurance policy on single family homes, which saves anywhere from $300.00 to $2500.00, in closing costs. Condominiums are required to purchase title insurance, when refinancing.

Sue Reichard Has Experience You Can Trust

I have had many clients over the years, finance their home mortgage, with Sue Reichard.  Many mortgage loan officers and brokers have left the mortgage industry as the real estate market in Central Ohio has declined.  However, Sue has been in the Columbus Ohio Mortgage industry for many years and was formerly with Fifth Third Bank.  So she has the experience and dedication you can trust to get the best loan for your home purchase or refinance.

Sue is Available When Your Need Her

Another thing I really like about Sue, is her customer service and responsiveness are better than most lenders.  You can typically reach her on her cell phone at 614-395-4150 anytime, including evenings and weekends, when most mortgage lenders are not available.  She tries to be flexible and available when you need her.  So feel free to contact her, to discuss your home loan needs and please let her know that Petra recommended her. Please note that interest rates are subject to change on a daily basis, so call Sue directly to find out the latest interest rates.

Sue Reichard, Assistant Vice President-Lending

The State Bank and Trust Company
109 South High Street
Dublin, OH 43017
P 614.336.7779 ext. 2790
C 614.395.4150
F 614.336.7879
Sue.Reichard@thebank-sbt.com

FREE COLUMBUS OHIO MORTGAGE LOAN PRE-APPROVAL

Whether you are a first time, 2nd time or 3rd time home buyer I always recommend home buyers get pre-approved, for their home mortgage before shopping for a home, in Central Ohio.  The mortgage industry is constantly changing and it is getting more difficult for buyers to qualify for a home mortgage loan.  The only way to know for sure how much home you can afford and what type of loan is best for you, is to get pre-approved for a home mortgage loan.  Once you are pre-approved for a mortgage, then I’ll be happy to work with you to buy your home in Central Ohio.

It is also recommended that you work with a local, reputable mortgage broker or bank in the Columbus Ohio area, to get the best interest rates, closing costs and service.  Remember you can’t just compare the interest rate, you must also compare the lender’s closing costs, to determine who’s giving you the best deal for your home mortgage loan.

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