If you have been thinking about buying a house, I have to tell you- now is the time! Interest rates are fantastic- right now you’re looking at 6% or even lower depending on your down payment and credit score.
Also, if you are a first time buyer, don’t forget about the $7500.00 tax credit from Uncle Sam. You qualify for this if you are a first time buyer or haven’t owned a home in the last 3 years. That is a $7500 check at tax time, straight in to your pocket to buy appliances, new carpet, whatever. Do keep in mind that this is really an interest free loan, meaning you pay the $7500 back over 15 years.
You can also find some amazing city-specific incentives, such as the $500 to add off street parking in Bellevue or the $8000 Yes You Can Program in Covington.
Are you an Ohio Hero? Teachers, Firefighters, Police Officers, Health Care Workers, Active and Reserve Military and Veterans- all qualify for the Ohio Heroes Program which includes a 1/4% rate reduction.
Any way you look at it, now is a great time to buy. Sellers selling in the winter are generally very motivated. You might have to trek through the snow but you won’t be disappointed with the housing and loan option out there. Feel free to contact me for more information on any of the programs I’ve mentioned here, or if you are ready to take the first step towards buying a house.