Increase Your Power When Buying and Selling a Home

December 29th, 2014

One of the many services offered by Colleen Rock and The Rock Group is a loan shopping service. This service can find a way for buyers to get more home for their money, as well as present listings as an even better value.

Many buyers today mistakenly assume that when buying a home, they have to put down more than five percent. Otherwise, if they put down less than five percent, they are stuck with FHA financing that has expensive private mortgage insurance (PMI), which can raise their monthly payments by a couple hundred dollars per month, on average.

However, by working with The Rock Group and their loan shopping service, qualified buyers with less than 5 percent down may not have to worry about PMI. For example, Colleen Rock can inform her buyers of a conventional (not FHA) loan that allows for 3 percent down with NO PMI attached.

By skipping past the costly PMI, this can allow buyers to look at homes with higher asking prices, but still keep their monthly payments as low as originally budgeted, or get the home they desire for less per month than they expected. The Rock Group’s loan shopping service can give buyers home purchasing power they never realized they possessed.

Additionally, The Rock Group works with home renovators. Their loan service has a product that merges both the purchase price and the expected renovation costs into a single loan. This is not a FHA product, but rather a conventional loan, with a down payment of as low as 5 percent.

Not only have these loans helped buyers who are clients of The Rock Group, but sellers as well. Colleen Rock has been able to use her loan shopping service to educate the buyers of her listings of ways they can save money on their monthly payments, making it so Colleen’s sellers didn’t lose deals to buyers who wrongly assumed they could not come up slightly to purchase the house they wanted.

There are restrictions for these loans, of course, so it makes sense to talk with Colleen Rock and her loan specialists to find out how they can help you.

The bottom line is that this loan shopping service has put people in homes they otherwise would have never been able to consider.

When considering who to work with to meet your real estate needs in the northeast Ohio areas, the decision is an easy one… Contact Colleen Rock and The Rock Group, Cleveland’s real estate experts, at 440.895.1111.

home loan balancing act

 

Entry Filed under: Buying a Home,Mortgage Financing,Selling a Home

1 Comment

  • 1. Scott Roes  |  January 10th, 2015 at 8:39 am

    Excellent artical and great information


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