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What is a Piggyback Mortgage?

In order to achieve the dream of homeownership, many buyers look for creative financing to aid them in their quest. One such option is a piggyback mortgage, which actually involves taking out two separate loans to make homeownership more affordable. These loans can be very helpful, but borrowers must know the risks in order to be succesful. Piggyback Definition Here’s how a piggyback mortgage works. You take out a traditional home loan for 80% of the home purchase price. You put down 10% of your own cash as a downpayment. Then in order to cover the remaining 10%, you take out a sec...

September 12th, 2018 | First-time Homebuyers, Conventional Loans, Preapproval, Purchasing a Home, What is a Piggyback Mortgage?

What Are Closing Costs?

When you sit down to sign the papers to buy a home, you will most likely be required to pay closing costs. Mortgage closing costs are the fees associated with the home buying and lending process.  What is included in my closing costs? The types of closing cost fees can vary based on region, property type, and loan type. There are a few basics that most everyone has to pay. These include things like an appraisal fee, for sending an appraiser out to determine the fair market value of the property. Closing or Escrow fees are also common, which compensate the Title Company, escrow firm ...

August 22nd, 2018 | Purchasing a Home, Refinancing a Home, Conventional Loans, What Are Closing Costs?

What is the Difference Between FHA loans and Conventional Mortgages?

If you are just getting started in the home buying process, you have probably come across several different types of mortgage loans as you have researched your options. Two of the most common home loan types are conventional and FHA mortgages. What are the differences between them and when does each make the most sense? FHA Loans FHA, or Federal Housing Administration, loans are a government-insurance program that makes it easier for Americans without great credit or large down payments to become homeowners. When a borrower is approved for an FHA loan with an approved lender, the federal...

July 11th, 2018 | FHA Loans, Government Loans, Conventional Loans, Purchasing a Home, What is the Difference Between FHA loans and Conventional Mortgages?

Main Office (Sidney)

733 Fair Rd.
Sidney, Ohio 45365

Lebanon Branch

901 N Broadway
Lebanon, Ohio 45036

Mason Branch

7588 Central Parke Blvd Suite 314
Mason, Ohio 45040


Phone: 800-736-8485
Fax: 937-497-9020
Email: Trose@westernohiomortgage.com
NMLS: 9601
We are licensed in the following states: Ohio: MB-801814.000, Indiana: 15536, Florida: MLD154, Kentucky: MB72955; 

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