home buyer: Interest Rate Buydowns - 08/23/22 08:50 AM
Interest Rate Buydowns 
 
Interest rate buydowns for home loans are coming back into focus. 
 
What are the benefits of an interest rate buydown and who is the best candidate?
In general the best candidate for an interest rate buydown would be someone who is expecting to have a greater income in a couple of years. A buydown allows the home buyer to ease into a higher rate (payment) in year #2 and #3. 
Another candidate would be someone who perhaps sees the home as a short term investment if he/she moves or transfers often. 
 
In light of rising home prices and interest rates, a buydown can … (5 comments)

home buyer: The Benefit of Seller Paid Closing Costs - 04/30/20 09:34 AM
The Benefit of Seller Paid Closing Costs
 
Did you know seller's often pay part or all of a buyer's closing costs and prepaid items?  In our Northern Kentucky and Ohio market they do. Now more than ever this can be a benefit to the buyer because we for the time being are in a very different world of pricing on mortgage loans.
 
In a normal market you have a range of choices when it comes to interest rates, the amount you want to spend and the amount you have available. It typically is not difficult to use something called premium pricing where a lender … (5 comments)

home buyer: HOME SALES DON'T STOP ON HOLIDAYS - 07/03/19 10:24 AM
HOME SALES DON'T STOP ON HOLIDAYS
 
While many businesses close down or take a long weekend when holidays come along real estate keeps going. When I was a real estate agent I sold a home on the 4th of July in the middle of a parade going through the town. As a mortgage broker I make myself available over the weekend, in the evenings and on holidays. I make it clear to my clients that I don't want to be the reason they don't get a bid in on time.
 
When I've spoken to a potential buyer and have them qualified for a … (0 comments)

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 … (1 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 … (3 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 … (3 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 … (3 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)

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

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



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