How are 2011 Cincinnati home sales similar to P&G’s Ivory soap TV commercials several years ago?  Both reported favorably over 99%.

The commercials touted Ivory soap at 99.44% pure.  Local home sales in 2011, likewise, hit 99.36% in total volume vs. 2010 sales. 

Home sales in December, for the sixth month in a row, continued a positive trend with 1,294 units -- up 7.65% over December 2010.  Annually, there were 16,829 sales in 2011 compared to 16,937 in 2010.  Second half sales of 2011 were positive, making up for a difficult first half.

Last month’s average price was $146,259, compared to a year ago of $160,295.  The average price for 2011 was $151,384 compared to $158,560 in 2010.

“We had an unbelievable run the second half of this year amidst unfavorable economic news,” said Tom Hasselbeck, president of the Cincinnati Area Board of Realtors.  “The sales performance in the greater Cincinnati market proves that buyers are finding great values and not waiting to make their purchase.  As long as interest rates remain low and the job market stabilizes, now is a superb time to buy as the economy continues to improve.” 

Today, the average interest rate in Cincinnati is 3.91% for a 30-year fixed rate mortgage.  Nationally, the average interest rate is 4.18%.  Many experts claim that the low interest rates will not last. 

The Cincinnati area housing market has 8 months of available inventory compared to nearly 10.5 months a year ago.  A continued decrease in inventory would result in a greater demand, possibly leading to an increase in the average sale prices of homes.  The National Association of Realtors claims that an inventory level of less than 6 months leans toward a “seller’s market,” where the price of homes could rise. 

“So if you are in the market to buy a home, don’t wait,” says Hasselbeck.  “Take advantage of the affordable homes in the Cincinnati market.”

Summary of Single Family and Condominium Sales
Multiple Listing Service of Greater Cincinnati
Cincinnati Area Board of Realtors®

December Home Sales

                                                            Closings          Gross Volume         Average Price          

                       December 2011                1,294          $189,258,762              $146,259
December 2010                1,202          $192,674,303              $160,295        

Variance            + 7.65%                    - 1.77%                - 8.76%

Yearly Home Sales

                                                            Closings          Gross Volume          Average Price

Jan-Dec 2011               16,829          $2,547,641,495             $151,384
Jan-Dec 2010               16,937          $2,685,525,814            $158,560        

                                Variance           - 0.64%                      - 5.13%                 - 4.53%

Nationwide, December home sales were up 5.0% from November on a seasonally adjusted basis and up 3.6% from December 2010. 

Compliments of the Cincinnati Area Board of Realtors

If you or someone you know has resolved to make 2012 the year to purchase their first home, then we are very excited to share this information with you.  Government Agencies and many local lenders are offering many programs that make it easier than anytime in the past 3 years to own your own home.  Super low interest rates, down payment assistance, and even tax credits for every year that you own your new home may be available to help you purchase your first home.

Down Payment Assistance is available in both Ohio and Kentucky through the respective State Housing Agencies (OHFA and KHC).  These programs offer grants of 2.5% of the home’s sales price that do not have to be paid back if you stay in the home for at least five years.

Mortgage Certificate Credit Program can provide you with a tax credit equal to 20% of the mortgage interest that you pay every year that you have your mortgage ($2,000 max per year).  How would you like to get a tax credit every year??

American Dream Loans are offered by one local lender here in the Greater Cincinnati area.  This program is a conventional mortgage with a low 3% down payment and no monthly mortgage insurance requirement.  Qualifying buyers may also get a grant to cover the majority of the down payment. (income limitations apply)

Welcome Home Grant funds typically become available in March, but you have to take action now to ensure your chances of taking advantage of this Federal program. There are a very, very limited number of opportunities for this program that can offer $5,000 in grant money for your down payment and closing costs.  You must be approved and have a home under contract when the funds are released in the spring.

Rural Housing Loans are offered by the USDA and are available in areas this agency considers “Rural Development Zones”.  This type of mortgage requires no money down and has very low monthly mortgage insurance.  By getting the seller of a home to pay your closing costs, you may not have to bring any money to the closing table.  You may also be surprised to learn that Batavia, Liberty Township, Maineville (Hamilton Twp) in Ohio and Independence and Alexandria in Kentucky are areas that largely qualify for this loan!

Even if you have owned a home in the past, you may still be a “First Time Buyer”.  For many programs, you are eligible if you have not owned a home in the past 3 years.  Today’s low interest rates make owning your home more affordable than renting in many cases.  If you are interested in learning more, let’s set up time to meet and discuss the programs that may be available to you.  This consultation is a free service that the Jason Bowman Team provides.  If you already own a home, please share this message with someone you may know that is considering the purchase of their first home.

We look forward to hearing from you!

Award reflects businesses’ consistently high level of customer service

For the second year in a row, Jason Bowman has been awarded the prestigious Angie’s List Super Service Award, an honor bestowed annually on approximately 5 percent of all the businesses rated on the nation’s leading provider of consumer reviews on local service and health providers.

According to Angie’s List, Jason Bowman of RE/MAX Elite, Mason, Ohio is the only REALTOR in the Cincinnati Tri-State Area that was awarded the Super Service Award this year and last year.  Jason and his specialized team of experienced REALTOR’S, work very hard to ensure that every client consistently receives the highest quality of service and communication that they desire and deserve.  Buying or selling a home is on the most important financial decisions our clients will make in a lifetime.  Jason and his Team are a buyer and seller’s guide from beginning to end navigating, them through every step of the process and making it an all around positive experience is the goal they strive to achieve.  “We are extremely humbled to be awarded the Super Service Award 2 years in a row for providing the type of service that everyone deserves.  We truly appreciate and dedicate this honor to our clients without whom, the award would not be possible,” said Jason Bowman, RE/MAX Elite, Mason, Ohio.

“Only a fraction of the businesses rated on Angie’s List can claim the sterling service record of being a Super Service Award winner because we set a high bar,” said Angie’s List Founder Angie Hicks. “The fact that Jason Bowman can claim Super Service Award status speaks volumes about his dedication to consumers.”

Angie’s List Super Service Award winners have met strict eligibility requirements including earning a minimum number of reports, an exemplary rating from their clients and abiding by Angie’s List operational guidelines.

Ratings are updated daily on Angie’s List, but members can find the 2011 Super Service Award logo next to business names in search results on AngiesList.com.

###

Angie’s List collects consumer reviews on local contractors and doctors in more than 500 service categories. Currently, more than 2 million consumers across the U.S. rely on Angie’s List to help them make the best hiring decisions. Members get unlimited access to local ratings via Internet or phone, exclusive discounts, the Angie’s List magazine and help from the Angie’s List complaint resolution service. Take a quick tour of Angie’s List and view the latest Angie’s List news.

Cincinnati Local home sales in November, for the fifth month in a row, continued a positive trend with 1,235 units -- up 11.8% over November 2010.

Last month’s average price was $146,905, compared to a year ago of $147,890. The average price for the first 11 months of 2011 was $151,764 compared to $158,426 the same 11 months in 2010.

“Five months in a row of increased sales, on a year-over-year basis, is a definite indicator that buyers -- first-time, move-up or even investors -- are finding great value in our market,” said Pete Kopf, president of the Cincinnati Area Board of Realtors. “But, to generate and sustain a healthy housing market, we need to create and maintain more jobs.”

Just last week, it was reported by Governor Kasich that the Ohio unemployment rate dropped to 8.5% in November. “This is a step in the right direction for our economy and the jobs outlook,” said Kopf. “So, for those who have jobs and who can afford to take advantage of our extremely affordable market, now is the time to buy.”

Today, the average interest rate in Cincinnati is 3.93% for a 30-year fixed rate mortgage.  Nationally, the average interest rate is 4.19%.

Read more by clicking on the following link: CABR November 2011 Homes Sales Update

Local Cincinnati Homes Sale for October - at 1,382 units - wer up 25.1% over October 2010.  it was the fourth month in a row of increased sals on a year-over-year basis.

Last month's average price was $142,893, compared to a year prior of $158,832.  Average price for the first 10 months of 2011 was $152,188 compared tp $159,228 the same 10 months a ear ago.

Read more by clicking on the following link:  CABR October 2011 Homes Sales Update

Home sales locally last month totaled 1,571 units, with a $166,351 average selling price.

That represents a 19% increase in sales from a year earlier when a surge in spring sales – due to a short-term federal home tax credit -- advanced some of the normal July 2010 sales to a few months earlier. Accordingly, it makes the year-over-year July sales not a true apples-to-apples comparison.

That said, sales last month were still favorable. It brought the total 7-month 2011 sales to 9,800 units and a total dollar sales volume of $1.48 billion.

“Home affordability, right now, is at the best of this year,” said Pete Kopf, president of the Cincinnati Area Board of Realtors.

He’s referring to current mortgage rates, now at a 2011 low of 4.25% for a 30-year fixed rate home loan. It peaked at 5.09% in mid-February. The difference now saves a buyer about $50 a month, or $600 a year, in housing payment for each $100,000 of home loan.

Kopf said “When you add a low mortgage rate to attractive housing prices and a good inventory of houses on the market to choose from, it’s a three-way win for buyers.”

A stronger employment number would further enhance future sales, Kopf added. “That will take some time, but growth in employment numbers will directly correlate with increased home sales.”

For today’s sellers, their homes need to be in tip-top shape to catch a buyer’s interest. That’s because buyers largely expect a home to be in pristine condition. “I have seen buyers quickly walk out of a poor house showing,” said Kopf.

“On the other hand, Realtors have witnessed listings that cultivated a magnitude of showings, which resulted in multiple offers and a strong sale,” he said. “I can’t emphasize enough the importance of the showing condition of a home that is for sale. Condition, along with a competitive price for the area, are the two key factors in overall sales activity.”

Summary of Single Family and Condominium Sales
Multiple Listing Service of Greater
Cincinnati Cincinnati Area Board of Realtors®

July Home Sales

Nationwide, July home sales were down 3.5% from June on a seasonally adjusted basis, but up 21% from July 2010. Sales slowed in July of 2010 from the effects of last spring’s home buyer tax credit.

I personally own two properties in Hamilton County.  One had an appraised value that decreased slightly and is a very accurate depiction of this home’s value.  The other, a small apartment building, had an increase of 54% for its 2011 Tentative Market Value!  I have to admit that I nearly fell off my chair when I opened this letter.  I was shocked that anyone would think that any piece of property could increase that much over the past 3 years with no improvements being made.  Once I got over the initial shock, I settled down and realized that I simply have to go through the process that I have been assisting my clients with for years.

Look, the Auditor is not trying to get you to pay an unfair property tax amount; they are just searching for the correct market value.  I have already personally assisted two past clients this year by attending hearings with them pertaining to their new valuation.  Before you fly off the handle and call Dusty’s office screaming and yelling, you should obtain some qualified comparable sales to determine how far off you think the tentative value is.  There is a process for contesting your 2011 Tentative Market Value and the Hamilton Count Auditor’s site is loaded with information.  As always, you can call our office at 513-766-0647 if you need comparable sales or a market analysis. 

Remember, the value on the letter this summer is the “Tentative Market Value”.  The Final Market Value will be on a letter that you will receive this fall.  Now is the time to take steps if you feel the Tentative Value is inaccurate.  Should you contest your value, the auditor is looking for real data to support your opinion of value so be prepared.

Click Here for the Hamilton County Auditor's Site

In closing, I want to sincerely thank John Matarese and Channel 9 for putting together a positive story about why now is a great time to buy a home.

John’s story will air at 6pm on Tuesday, July 19, 2011 and you can link to his page by clicking this link:  Big clearance sales on homes right now.

Every June, I wait with great anticipation for Cincy Magazine’s “Rating the Burbs” issue. This local magazine for Business Professionals looks at more than 130 communities and ranks them using Census data, crime reports, schools, and home sales. How this publication ranks its top 50 is always intriguing, but this article is also the single best source for current neighborhood, village, and township statistics. The folks at Cincy Magazine also break down the top 35 school districts and the top 50 “safest neighborhoods”.

If you are relocating into the Greater Cincinnati area, this publication is an absolute “must read”. It is a great tool to help narrow down your search for the best place to be in the Tri State. Even if you have lived in the area all your life, this article is helpful to see which communities may be trending up before you make your next home purchase. Of course, this publication is the not end all, be all to your decision making process. It is very helpful to have all of the data at your fingertips.

Planning to relocate to Greater Cincinnati? Read the entire article at: June Cincy Magazine.

Before the housing bubble burst in 2006, the index average for the year was 108. The high prices and higher interest rates restricted many buyers from purchasing. As the market started to deteriorate, which resulted in declining values and lower interest rates, the index started to rise.

The opportunities are not being seized by buyers and some real estate professionals feel that it's because there is confusion in the marketplace. Buyers are uncertain whether they would qualify and whether now is a good time to be purchasing a home.

All markets are different and every situation is unique. The only certain way to determine would be to investigate your individual situation. You owe it to yourself and your family to visit with our Team, The Jason Bowman Team.  We are a Team of professionals who can show you the real cost of housing and recommend a lender.  No is the time to buy your Greater Cincinnati Home.

The National Association of Realtors releases the index at the end of each month with a two month lag time for compiling the information. When the index is at 100, a median income family can afford a median price home. As the index increases, housing affordability increases.

            Local home sales – even without the benefit of a tax credit program from a year ago – did relatively well last month.

            March sales totaled 1,477 homes.  Using the recent 3-year March average of 1,487 sales, activity last month was off only 0.7%.  Comparing March 2011 to March 2010, sales were off 7.34%.

            March 2009     1,389
            March 2010     1,594 (increase was influenced by a tax credit incentive for home buyers)
            March 2011     1,477
               3-year avg.   1,487

            Statewide, housing sales were off during the first quarter of this year compared to the similar period in 2010.  That’s due largely to Ohio’s first-quarter unemployment rate of 9.6%.   That said, Cincinnati still beat the other three major market areas in Ohio housing sales during the 2011 vs. 2010 quarterly comparison:

            Cincinnati                -1.65%
            Dayton                     -6.64%
            Columbus                 -7.28%
            Cleveland/Akron       -8.97% 

            All of Ohio                 -4.96%

            “Low mortgage interest rates are still in a buyer’s favor,” said Pete Kopf, president of the Cincinnati Area Board of Realtors.  A 30-year fixed rate loan this week averaged 4.91%.  That compares to 5.25% one year ago.  “Lower mortgage rates have a definite impact on housing affordability,” said Kopf.

             A recent Cincinnati-vs.-USA comparison shows that local home buyers have 49% more buying power than the average national buyer.  That takes into consideration median income, housing prices and monthly mortgage payment.  Cincinnati was favored in all three metrics.

             In addition, the local unemployment rate last month dropped to 8.9%, the best reading since January 2008.  The number of people without jobs in the 15-county region dropped below 100,000 for the first time in 25 months.   “These are positive trends that should help boost the local economy and housing market,” said Kopf.

            Kopf said that spring buying is in full gear with an ample housing inventory, but admitted that bank lending (qualification) standards have tightened somewhat. 

           “If you can jump through the hoops to get a mortgage – and there will be hoops -- then this is an amazing time to purchase real estate,” said Robert Stein, the former head of the Treasury Department’s Office of Economic Policy.  “There are going to be a lot of people kicking themselves a few years from now because they didn’t take advantage of the low (housing) prices and low mortgage rates.”

Summary of Single Family and Condominium Sales
Multiple Listing Service of Greater Cincinnati
Cincinnati Area Board of Realtors®

 March Home Sales

                                                             Closings          Gross Volume         Average Price          

                        Mar. 2011                     1,477              $196,844,235              $133,273
                        Mar. 2010                     1,594              $242,809,644              $152,327        

                                   Variance           -7.34%                       -18.93%               -12.51%

 Year-to-Date Home Sales 

                                                            Closings          Gross Volume          Average Price
                      Jan-Mar. 2011                3,345             $463,232,363             $138,485          
                      Jan-Mar. 2010                3,401             $513,353,534             $150,942        

                                     Variance            -1.65%                        -9.76%                -8.25%

 Nationwide, March home sales were up 3.7% from February on a seasonally adjusted basis, but down 6.3% from March 2010.

This Cincinnati Real Estate Update is compliments of the Cincinnati Area Board of Realtors 4/20/2011. 

Some people don't have any choice but to rent because they don't have the means to qualify for a loan. But for those who do have a down payment and good credit, they actually have a choice of whether to rent or buy. In some cases, owning will cost significantly less than renting.

Rentals are in high demand in many markets and rents are going up. People who have experienced foreclosures and short sales have increased the demand for rentals. The first comparison a discerning buyer needs to make is whether the house payment is lower than what they'd have to pay in rent.

The next comparison needs to consider the other benefits that accrue to an owner such as principal reduction, appreciation and tax savings. These can dramatically weigh in favor of owning rather than renting.

Tenants have made the decision to buy a home. The decision currently facing them is whether to buy it for themselves or their landlord.  Call Jason Bowman, Cincinnati's Real Estate Resource to weigh your options of whether renting or buying in the Greater Cincinnati Area is the right choice for you.  My Team specializes in helping 1st time homebuyer's realize the dream of homeownership.

As an example, a $175,000 home with a 5% mortgage for 30 years would have monthly mortgage premium of $163.46.  This is eliminated when the unpaid balance reaches $136,500 which is 78% of $175,000.  It can do that with normal amortization which would take about 10.7 years.

A faster way to reach that target balance would be to pre-pay the mortgage by making regular additional principal contributions or single lump sums.  In the example used above, if a person made an additional $100 principal contribution with each payment, the 78% level would be reached in 7 years 8 months compared to the 10.55 with normal amortization.

If a person would increase their principal contribution by a little less that $300 a month, the need for the MIP would be eliminated at the end of five years which is the minimum amount of time it must stay in place for most FHA loans.

The benefits of making additional principal contributions will be to build equity faster, lower overall interest that you'll pay and shorten the time that you'll be required to pay the costly mortgage insurance.  It will be necessary for the borrower to notify FHA when the target date has been reached if accelerating the amortization.

If you’re interested in developing a strategy to shorten the time your MIP is required on your loan, I can provide this type of analysis for you at no charge or obligation.  Call me, Cincinnati's Real Estate Resource, today at 513-766-0647.  I can send you a personalized analysis on how you can lower your FHA Mortgage Payment and build equity faster.

Use this link to search all open house events in the Cincinnati Area: 

Search All Cincy Open Houses!!

Here are some of the featured homes that will be held open.

Deadlines are critical and if the challenge isn't made in a timely fashion, the opportunity to lower the assessment can be lost for the year.  You'll need to verify the deadlines for your area by visiting the Auditor's website for your respective county.  Or, use the quicklinks below:

Hamilton County:  http://www.hamiltoncountyauditor.org/pdf/borform.pdf
Clermont County:  http://www.clermontauditor.org/BORRealProp.pdf
Butler County:  http://www.butlercountyauditor.org/content/images/BOR_2010.pdf
Warren County:  http://www.co.warren.oh.us/auditor/realestate/forms/dte1.pdf

The process for the challenge is relatively simple and can be done by a homeowner or by professional representation.  In some cases, if there is an obvious mistake, the state employee may be able to correct it without a hearing.

Check the property assessment record for common mistakes that can include the number of bedrooms, baths, lot size and square footage of the improvements.  Documentation is required to verify the errors.  If you have an appraisal, such as when you purchased the home, it can serve as proof of the discrepancy.

In other cases, a hearing is required before a panel of citizens who will listen to testimony from the taxpayer and a representative of the assessor's office.  Based on the documentation presented, the panel will make a ruling to lower the value, make no change or in some cases, raise the valuation.

Recently closed comparables are the most common proof presented in a hearing.  Comparables should be similar in size, condition and location.  A knowledgeable real estate professional can filter the results generated in a MLS search to identify the most appropriate.

I’m prepared to supply the comparables, filing deadlines and other pertinent information you need to make a challenge.  Lowering your assessment will result in lower property taxes and more money in your pocket.  Call me, Jason Bowman, today at 513-766-0647 - I am here to help.

The second issue surrounds buyers that will be using a FHA mortgage in their next home purchase.  The Department of Housing and Urban Development is increasing the monthly mortgage insurance factor for FHA loans that offer a down payment of less than 5%.   This MIP increase will translate into an approximate increase of $40 per month for a borrower taking out a $200,000 FHA mortgage.  To avoid this mortgage payment increase, your lender will need to establish your FHA case number before April 18^th to stop the clock. This issue really affects everyone as over 65% of purchase mortgages originated last year were FHA loans.

Welcome Home funds are available for a limited time only.  For both of these time sensitive issues, you will want to secure a contract on the home you wish to purchase in the first two weeks of April. 

There's more to finding the "Right" home than driving around looking at houses.  The Jason Bowman Team can help you make better decisions to help you understand the tax advantages, financing alternatives and investment aspects of homeownership.

Call 513-766-0647 or email eTeam@JJBowman.com

Click Here to View Carson Palmer's Listing!

Great Jumbo Loan programs are finally coming in Greater Cincinnati and Northern Kentucky.  Now is the perfect time to take advantage of fantastic pricing in Cincy's Luxury market.  Call or email The Jason Bowman Team today to start viewing properties that are of interest to you.  Jason Bowman at RE/MAX Elite  513-766-0647 -or- Jason@JJBowman.com

The extension was granted for members of the military, Intelligence and Foreign Service who have served outside of the U.S. for at least 90 days between January 1, 2009 and May 1, 2010.  The purchase contract must be signed by all parties by April 30, 2011 and closed by June 30, 2011.

Qualifying taxpayers may be eligible for either the first-time credit of $8,000 or the current homeowner credit of $6,500.  To get additional information from IRS.gov, click here.

This is a wonderful opportunity for a person to have a home of their own, to raise their family, share with their friends and feel safe and secure.  The Cincinnati Real Estate Market is ripe with advantages for buyers who can afford it.  Prices of homes in the Greater Cincinnati Area have come down considerably in the last two to three years.  Interest rates are at an almost all-time low but are expected to rise soon.  The selection of homes in the Cincinnati Area is good which allows buyers to find the home that meets their needs.

A qualifying veteran with eligibility could get into a home with no down payment, no closing costs if paid by the seller and the tax credit.  These tax credits are refundable which means that any amount that isn't used to offset tax liability will be refunded to the taxpayer in a check.  You're practically being paid to buy a home.

There probably will never be this combination of advantages available for buyers who qualify.  Don't miss this opportunity.  You owe it to yourself and your family to see that it may actually cost you less to own than to rent and what it will take to get into a home.  Call The Jason Bowman Team at 513-766-0647 today to find out how you can buy a home in the Greater Cincinnati Area with little or no money down and take advantage of this tax credit before it expires on April 30, 2011.

Local home sales in February – for the second consecutive month – improved over a year ago.  Sales last month totaled 963 compared to 945 in February from a year ago, for a 1.9% improvement.

In addition, the February 2011 sales figure is 7.6% ahead of January sales (963 vs.895)

Year-to-date home sales (counting January and February) are up 2.82% over the similar 2-month period a year ago (1,858 vs. 1,807).

The Cincinnati-area housing market, with a gain in sales, was one of the top metro areas in the state last month. The Cleveland/Akron, Columbus and Toledo markets saw a decrease in sales.

“Real estate is always a local issue, and the fact that Cincinnati posted gains for the month shows the relative health of our region,” said Pete Kopf, president of the Cincinnati Area Board of Realtors.

Kopf cited three primary reasons why sales, in general, are on the upswing:

1)      Buyers’ concerns that if home mortgage rates increase later in 2011, it is smarter to lock in attractive rates now instead of waiting for higher costs as the year progresses. A 30-year fixed rate loan slipped to 4.85% last week, but that isn’t expected to last through the summer.

2)      Rent increases currently going on are making renters realize the tax benefits they could receive with home ownership compared to no tax benefits in renting. [Mortgage interest costs and property taxes are deductible on federal income tax returns for home owners.]

3)      There currently is an ample inventory of homes to choose from, which offers attractive buying opportunities at all price levels.

More home showings are happening early this year,” said Kopf. “That’s a positive sign the housing market has stabilized and the pent-up demand for homes is being handled successfully.”

Summary of Single Family and Condominium Sales
Multiple Listing Service of Greater Cincinnati
Cincinnati Area Board of Realtors®
February Home Sales

Year-to-Date Home Sales 

Nationwide, February home sales were down 9.6% from January on a seasonally adjusted basis, and down 2.8% from February 2010.

Information compliments of the Cincinnati Area Board of Realtors.

Example
Sales Price                                                         $475,000
Maximum VA Loan                                              $417,000
Excess Amount                                                   $ 58,000
25% Required Down Payment on Excess              $ 14,500
Adjusted Loan                                                    $460,500

VA loans are eligible for veterans of the military with a certificate of eligibility in both Cincinnati and Northern Kentucky.  A Veteran can get a 100% loan up to the maximum VA loan amount and the seller can pay their closing costs which would allow a Vet to get into a home with no down payment and no closing costs.  The VA Funding Fee can be rolled into the mortgage or paid by the Seller.

When the Vet sells the home, their VA loan is assumable at the existing interest rates but does require qualification of the new buyer.  The benefits would be a possible lower interest rate and lower closing costs. 

There's more to finding the "Right" home than driving around looking at houses.  The Jason Bowman Team can help you make better decisions to help you understand the tax advantages, financing alternatives and investment aspects of homeownership.

Call 513-766-0647 or email eTeam@JJBowman.com