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Columbus Mortgage Rates
Paying 20% of the purchase price of the property as down payment will lower the Columbus mortgage rates . Paying the required down payment helps in lowering monthly payments, avoiding private mortgage insurance and building equity faster. There are options that allow you to avoid mortgage insurance with a down payment as low as 10% if you get a first mortgage for 80% of the purchase price of the home, and a second mortgage for 10%. Columbus Mortgage lenders are willing to overlook imperfections in your credit record if you make down payments of more than 20%. Also consider whether it is to your advantage to save for a down payment or pay off debts for a better credit rating. Evaluate various columbus mortgage loan rates from top mortgage brokers.
The following table features housing market data and mortgage trends
in Columbus.
Columbus
Mortgage Statistics
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| Mortgage-Free Homes |
20% |
| Mortgaged Homes |
80% |
| With First Mortgage Alone |
58% |
| Second Mortgage or Home Equity Loan |
22% |
| Home Equity Alone |
10% |
| Second Mortgage Alone |
11% |
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| Columbus
Housing Expenses |
| Owner expenses as % of Income |
19.6% |
| Median Real Estate Taxes |
$1,381 |
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| Columbus
Housing Stocks |
| Median Year Constructed |
1971 |
| Year Constructed - Owner Occupied |
1969 |
| Year Constructed - Renter Occupied |
1972 |
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| Columbus
Housing Market Data |
| Population |
2,356,208 |
| Median Age |
29 |
| Median Household Income |
$36,053 |
| Total Housing Units |
154,566 |
| Average Home Price |
$141,097 |
| Owner Occupied |
49% |
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| Monitors the market constantly
Honest advice from experts nationwide
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