Interest rates in Columbus Ohio

[Aram Jawad]

It's great to hear that interest rates are dropping down. While the inflation is still elevated, we started to see a graduate decline in interest rates. Many home buyers earlier this year were paying around 7% but, recently we start to see home buyers getting loans for little over 6% which is a good indicator for the market. Julia Gordon, Federal Housing Administration Commissioner, said that they follow the same steps as a conventional loans do, in case of time, some requirements, and appraisal guidelines. Since many people uses FHA loans, that could stable the market a bit more, so for now we are hoping for the best but, also prepared for the worst.

[Jimmy Lieu]

Quote from @Aram Jawad:

It's great to hear that interest rates are dropping down. While the inflation is still elevated, we started to see a graduate decline in interest rates. Many home buyers earlier this year were paying around 7% but, recently we start to see home buyers getting loans for little over 6% which is a good indicator for the market. Julia Gordon, Federal Housing Administration Commissioner, said that they follow the same steps as a conventional loans do, in case of time, some requirements, and appraisal guidelines. Since many people uses FHA loans, that could stable the market a bit more, so for now we are hoping for the best but, also prepared for the worst.

Hi Aram, I am a local agent here in Columbus Ohio and work specifically with investors on finding investment properties here. My best advice I always tell my investor clients is that it doesn't matter what the interest rates are, if the #s make sense, then you should buy! Rather than trying to time the market, time in the market is way more important. This past two weeks, I've gone under contract on three different investment properties (1 BRRRR and 2 flips) so there still tons of positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

[Aram Jawad]

Yes, strongly agree with you on the fact that there are ton of investment in Columbus and if the #s makes sense you probably should invest.

[Dennis Muno]

Yes, rate are going down. The type of loan you do get also matters. for government backed loans like FHA and VA, there is some pricing starting in the high 5%(5.6% and above). Conventional loans are a little more expensive now at 6.5% and above. I would say the only way to win would be to shop around multiple lenders if you do need a loan, and find out the best loan interest rate and terms for you

[Account Closed]

Been seeing a lot below 7 lately, not many under 6 though

[Carlos Ptriawan]

Quote from @Aram Jawad:

It's great to hear that interest rates are dropping down. While the inflation is still elevated, we started to see a graduate decline in interest rates. Many home buyers earlier this year were paying around 7% but, recently we start to see home buyers getting loans for little over 6% which is a good indicator for the market. Julia Gordon, Federal Housing Administration Commissioner, said that they follow the same steps as a conventional loans do, in case of time, some requirements, and appraisal guidelines. Since many people uses FHA loans, that could stable the market a bit more, so for now we are hoping for the best but, also prepared for the worst.

 Why CA credit union could produce 5% interest rate but all OHIO lender is still stuck at 6-7% rate ? any idea why ?

[Aram Jawad]

Quote from @Carlos Ptriawan:

Quote from @Aram Jawad:

It's great to hear that interest rates are dropping down. While the inflation is still elevated, we started to see a graduate decline in interest rates. Many home buyers earlier this year were paying around 7% but, recently we start to see home buyers getting loans for little over 6% which is a good indicator for the market. Julia Gordon, Federal Housing Administration Commissioner, said that they follow the same steps as a conventional loans do, in case of time, some requirements, and appraisal guidelines. Since many people uses FHA loans, that could stable the market a bit more, so for now we are hoping for the best but, also prepared for the worst.

 Why CA credit union could produce 5% interest rate but all OHIO lender is still stuck at 6-7% rate ? any idea why 

Not defending anyone here, but I think it's because CA has more investors than Ohio, which when coming to buy a property , majority of them uses cash, so it kind of leaves banks there with less loans to make. So as a counter action from banks is that they lower their interest rates to gain more borrowers

[Rickey Brunson]

Quote from @Jimmy Lieu:

Quote from @Aram Jawad:

It's great to hear that interest rates are dropping down. While the inflation is still elevated, we started to see a graduate decline in interest rates. Many home buyers earlier this year were paying around 7% but, recently we start to see home buyers getting loans for little over 6% which is a good indicator for the market. Julia Gordon, Federal Housing Administration Commissioner, said that they follow the same steps as a conventional loans do, in case of time, some requirements, and appraisal guidelines. Since many people uses FHA loans, that could stable the market a bit more, so for now we are hoping for the best but, also prepared for the worst.

Hi Aram, I am a local agent here in Columbus Ohio and work specifically with investors on finding investment properties here. My best advice I always tell my investor clients is that it doesn't matter what the interest rates are, if the #s make sense, then you should buy! Rather than trying to time the market, time in the market is way more important. This past two weeks, I've gone under contract on three different investment properties (1 BRRRR and 2 flips) so there still tons of positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

 Hey Jimmy, my names Rickey Brunson I'm a new investor in Columbus, Ohio! I'm currently wholesaling but I'd like to get into flipping and furthermore getting my first rental. I'd love to connect. I'll email you or DM you on Instagram!

[Remington Lyman]

Quote from @Rickey Brunson:

Quote from @Jimmy Lieu:

Quote from @Aram Jawad:

It's great to hear that interest rates are dropping down. While the inflation is still elevated, we started to see a graduate decline in interest rates. Many home buyers earlier this year were paying around 7% but, recently we start to see home buyers getting loans for little over 6% which is a good indicator for the market. Julia Gordon, Federal Housing Administration Commissioner, said that they follow the same steps as a conventional loans do, in case of time, some requirements, and appraisal guidelines. Since many people uses FHA loans, that could stable the market a bit more, so for now we are hoping for the best but, also prepared for the worst.

Hi Aram, I am a local agent here in Columbus Ohio and work specifically with investors on finding investment properties here. My best advice I always tell my investor clients is that it doesn't matter what the interest rates are, if the #s make sense, then you should buy! Rather than trying to time the market, time in the market is way more important. This past two weeks, I've gone under contract on three different investment properties (1 BRRRR and 2 flips) so there still tons of positive cash flowing and 1% deals here in Columbus Ohio. As a local investor and agent here in Columbus, let me know if you have any questions or want to connect!

 Hey Jimmy, my names Rickey Brunson I'm a new investor in Columbus, Ohio! I'm currently wholesaling but I'd like to get into flipping and furthermore getting my first rental. I'd love to connect. I'll email you or DM you on Instagram!

Can you add me to your wholesale list, please?

[Scott Allen]

@Aram Jawad You should always try to ask the seller for a seller credit to apply towards closing cost when you can. You can buy down the interest rate or bring less money to closing.