home buyer: WHO PAYS A MORTGAGE BROKER? - 06/10/19 09:51 AM
WHO PAYS A MORTGAGE BROKER?
 
As a mortgage broker in Kentucky and Ohio I sometimes am asked "Who pays you?" Or "How do you get paid?" I nearly lost an opportunity for a home loan recently because the buyers thought they had to pay me. We had met and discussed their goals and best products for them. They later admitted they were very thankful for the frank discussion and great education about how to proceed but were concerned about their funds.  Being first time buyers they were considering the down payment they needed plus what they may need to pay me and did … (0 comments)

home buyer: SAVE UP TO $525.00 ON APPRAISAL FEE - 05/23/19 12:12 PM
SAVE UP TO $525.00 APPRAISAL FEE ON SELECT PROGRAMS
 
For a limited time (must close by June 30, 2019) you can save up to $525.00 on the appraisal fee for a HOME READY OR HOME POSSIBLE mortgage loan for home purchase in Kentucky and Ohio.
 
Cash to close is often a concern. Home Ready and Home Possible are often used by first time home buyers but you don't have to be a first time buyer. Depending upon the property there may be income limits. Saving up to $525 out of pocket can be game changing for home buyers with limited assets. 
 
If a home … (0 comments)

home buyer: SAVE UP TO $525.00 APPRAISAL FEE ON SELECT PROGRAMS - 05/23/19 12:10 PM
SAVE UP TO $525.00 APPRAISAL FEE ON SELECT PROGRAMS
 
For a limited time (must close by June 30, 2019) you can save up to $525.00 on the appraisal fee for a HOME READY OR HOME POSSIBLE mortgage loan for home purchase in Kentucky and Ohio.
 
Cash to close is often a concern. Home Ready and Home Possible are often used by first time home buyers but you don't have to be a first time buyer. Depending upon the property there may be income limits. Saving up to $525 out of pocket can be game changing for home buyers with limited assets. 
 
If a home … (0 comments)

home buyer: Using a Power of Attorney to Buy or Sell a Home - 05/14/19 08:41 AM
Using a Power of Attorney to Buy or Sell a Home
 
When a home buyer or seller is using a power of attorney in Kentucky to buy or sell a home it is important to know what you need exactly to avoid any delays in closing. The title company handling a sale will need the original copy power of attorney. It also needs to be specific. 
 
In certain circumstances an individual may have a general power of attorney for another person allowing him/her to handle a great deal of the legal activities. Sometimes this is the case if the person for whom the transaction … (0 comments)

home buyer: MARCH 2019 HOME BUYING CLASS - KY and OH - 03/19/19 09:55 AM
MARCH 2019 HOME BUYING CLASS - KY and OH
 
It's that time again! The March 2019 home buying class is set for Thursday March 21, 2019.  If you are in the market to buy a home in Kentucky or Ohio then you need the information I'll give you at this class. Take an hour and half of your evening to learn what a lender needs to qualify and approve your loan, why using a Realtor is so important, how to be in the best positon before you write an offer, and much, much more.
 
RSVP to Dora Griffin  dagf147@gmail.com     Space is limited. This … (0 comments)

home buyer: SPRING FORWARD MARCH 10 IN 2019 - 03/07/19 08:27 AM
SPRING FORWARD MARCH 10 IN 2019
 
THIS SUNDAY MARCH 10 is the beginning of DAYLIGHT SAVING TIME. Not all states move clocks back and forth but Kentucky and Ohio do, the markets I work in. Daylight saving time starts the second Sunday in March and ends the first Sunday in November for those locales who make the change. Parts of Indiana don't always move clocks so part of the year we are on the same time and other times not.  It made it interesting when visiting my brother as to whether we showed up in time for lunch or late for lunch … (0 comments)

home buyer: SPRING FORWARD MARCH 10, 2019 - 03/07/19 08:25 AM
SPRING FORWARD MARCH 10, 2019
 
THIS SUNDAY MARCH 10 is the beginning of DAYLIGHT SAVING TIME. Not all states move clocks back and forth but Kentucky and Ohio do, the markets I work in. Daylight saving time starts the second Sunday in March and ends the first Sunday in November for those locales who make the change. Parts of Indiana don't always move clocks so part of the year we are on the same time and other times not.  It made it interesting when visiting my brother as to whether we showed up in time for lunch or late for lunch since … (0 comments)

home buyer: Some Tips About Credit Before You Apply For A Mortgage Loan - 02/14/19 11:51 AM
Some Tips About Credit Before You Apply For A Mortgage Loan
Here are some tips about credit that can and should be considered before applying for a home mortgage. I talk to a good many folks who want to buy a home who have either have applied for a home loan and ran into an obstacle, or they just want to be prepared.
 
Why is your credit score when you apply for a home loan so important? It is important in that some programs require a minimum credit score to qualify and your score can affect the rate you ultimately receive.
 
Every situation is different … (0 comments)

home buyer: Get Ready If You Want To Buy A Home In The Spring - 02/01/19 09:04 AM
Get Ready If You Want To Buy A Home In The Spring
 
Spring will be upon us soon. If you are looking to buy a home in Northern Kentucky or Cincinnati then you need to get your ducks in a row NOW. I have several home buyers who are working toward home ownership in the future. Some need a couple of months, some need a bit longer to be ready to buy.  Some are ready to buy now and are waiting on inventory. The great thing is that these people reached out now to determine how to position themselves for the spring … (2 comments)

home buyer: Why Real Estate Taxes May Go Up After Closing - 01/29/19 02:40 PM
Why Real Estate Taxes May Go Up After Closing
Why would real estate taxes go up after closing? When closing on a home purchase there are a couple of things to consider about the real estate taxes. One thing to consider is that normally when qualifying a buyer for a home purchase and in setting up an escrow account the taxes of record are used. That means if the property being purchased is valued much less than what one is paying for the home the taxes will be based on the current value not the sale price. This can be confusing when … (0 comments)

home buyer: How Much Do I Need For A Down Payment On A Home? - 01/28/19 01:07 PM
How Much Do I Need For A Down Payment On A Home?
 
How much money do I need for a down payment? I will count myself as rather surprised at how many home buyers think they need to save 20% for a down payment these days. Depending upon the loan program you could need no money for a down payment (such as a VA loan). There is a conventional loan that only requires 3% (if qualified). FHA minimum is 3.5% down. So there are several no or low down payment options. They may have some particular guidelines such as veteran status, credit … (2 comments)

home buyer: Prepare To Buy A Home With A Home Buying Class - 01/24/19 07:58 AM
Prepare To Buy A Home With A Home Buying Class
 
Be in the know when you are buying a home by taking a home buying class. I talk to folks every day who are surprised at what they don't know about buying a home. When buying a home your goal is finding the home but also being knowledgeable about the process itself, being aware of what is expected of you, having the best credit score possible, knowing your limitations, knowing what will affect your ability to buy. These things among so many more are things you will learn from a home buying … (0 comments)

home buyer: How Important Are Real Estate Taxes In Buying A Home? - 01/18/19 01:42 PM
How Important Are Real Estate Taxes In Buying A Home?
 
Lenders use PITI (principal, interest, taxes and insurance) along with other debt to determine how much someone qualifies to buy. It is easy enough to calculate the principal and interest payment on any one of the online tools available. My web page www.dagriffinfinancial.com  has such a tool. This is important information but only part of the total the lender uses to qualify a home buyer.
One facet of the payment, the real estate property taxes, can matter to some folks as to the home they buy. I know of some who insist they … (0 comments)

home buyer: I'm Self Employed, Can I Buy A Home? - 01/14/19 11:51 AM
 
I'm Self Employed, Can I Buy A Home?
 
I had a call today from a self employed home buyer with questions about buying a home. He had called his banking partner and was told he needed two years of self employed income to qualify for a home loan and he should call a mortgage broker. And they are right, mostly.
I say mostly right because as a mortgage broker there are lenders who have alternative ways of closing home loans for the self employed. The problem is a big down payment is required and the higher the credit score the better. Most first time … (2 comments)

home buyer: WHEN CLOSING COSTS ARE LESS THAN SELLER AGREED TO PAY - 01/10/19 10:00 AM
WHEN CLOSING COSTS ARE LESS THAN SELLER AGREED TO PAY
 
 
Before shopping for a home most home buyers will take into account their funds for down payment, closing costs and other out of pocket expenses. Depending upon the loan program these figures can vary. Mortgage loan programs each have defined minimum down payment requirements and maximum seller contributions. What follows is a discussion about what happens when closing costs are less than negotiated for the seller to pay.
For a FHA mortgage loan the seller can contribute up to 6% of the sale price. Other programs cap the contribution at 3% or 4% depending on … (0 comments)

home buyer: Save Up to $525 On Conventional Purchase Loans - 10/11/18 12:36 PM
Save Up to $525 On Conventional Purchase Loans 
 
For Kentucky Conventional Purchase Loans And A Limited Time Only save up to $525 on the appraisal fee. 
 
Closing costs are not a pleasant part of the home buying process. Many costs cannot be avoided because they are necessary.  
 
Sometimes an appraisal is not required at all when making a home purchase and using automated underwriting. In itself that is a savings but not all home buyers can count on that. Generally those loans are for borrowers with higher credit scores and higher down payments. When working with one of my best lenders the appraisal fee … (0 comments)

home buyer: When To Get Qualified For A Home Loan - 09/25/18 12:41 PM
When To Get Qualified For A Home Loan
There are different reasons for different home buyers as to getting started with the lending process. Some home buyers are fortunate in that they have plenty of cash for a down payment, great credit, and low income to debt ratio.  Many, however,  don't fall into that category. Here are some thoughts about getting started when you want to buy a home.I often am asked "when should I get qualified for a loan?".  The answer is one should start looking at getting qualified for a home loan as much in advance as possible. 
 
First of all, … (0 comments)

home buyer: Termite Inspection for Home Purchase - 09/24/18 10:23 AM
Termite Inspection for Home Purchase
 
When you buy a home in Northern Kentucky the inspection for a home inspection and wood destroying insects boxes are routinely checked. We live in an area where termites are fairly common so most home buyers will want the termite inspection done. I must disclose a fee on my loan estimate for certain services selected on a purchase contract and I must provide offsetting paid invoices for those fees. 
I'm running into more and more home buyers who utilize "one stop shopping" when they engage someone for the home inspection AND allow that company to bring in a … (0 comments)

home buyer: House Hunting, What You Want and Need - 09/18/18 11:37 AM
House Hunting, What You Want and Need
 
House Hunting is made easier if you start with what you WANT and what you NEED in a home. I'm working with a first time buyer now who has taken the steps as recommended to make a list of what she must have and what she wants in a home. This is an important step to assist the real estate agent in selecting properties to view, in confirming how close the home she selects is ideal, and to consider if she finds herself slipping away from what she initially had in mind. 
 
Included in the list of … (2 comments)

home buyer: DO I NEED TO GET AN APPRAISAL? - 02/08/18 08:02 AM
DO I NEED TO GET AN APPRAISAL?
 
Quite often I am asked by home buyers and sellers "do I need to get an appraisal?". My question is why do you think  you need one? If you are utilizing the services of a professional real estate agent they are going to provide a seller the market information to set the price. An agent representing the buyer will use the sales information to determine the offer price. 
Sometimes when there is no real estate agent involved one party or the other may be inclined to get an appraisal so they know the expected value of … (2 comments)

 
Dora Griffin, NMLS 6380 (D A Griffin Financial.LLC) Rainmaker large

Dora Griffin

NMLS 6380

Fort Thomas, KY

More about me…

D A Griffin Financial.LLC

Address: 48 Sterling Avenue, Fort Thomas, KY, 41075

Office: (859) 442-9700

Fax: (859) 815-8680

Email Me



Listings

Links

Archives

RSS 2.0 Feed for this blog