What Is Mortgage in Columbus, Ohio?

Find the right Mortgage attorney in Columbus, OH

A Columbus, Ohio mortgage is a lien placed on a piece of real estate by a lender to secure a loan. The loan is normally for the purpose of purchasing the home that serves as the security. Most residential properties bought in the U.S. are financed with a mortgage. This allows individuals who would otherwise be unable to purchase a home to do so.

Of course, purchasing anything on credit in Columbus, Ohio costs more in the long run than the purchase price, since lenders make a profit by charging interest on their loans. However, for many individuals, this is a fair tradeoff for the ability to buy a house.

How Can I Get A Mortgage in Columbus, Ohio?

The majority of Columbus mortgages are obtained from banks. When you apply for a mortgage, you should be ready to present a credit report, documentation of your income, your employment history, and an accounting of your assets and debt. In Columbus, Ohio, the lender will almost certainly require a down payment before extending credit. This is to show that you likely have enough funds to pay the mortgage, and to mitigate some of the lender's risks. You should make sure to save up more money than the down payment amount before purchasing the home.

It may take a few days to several months for a bank to approve a mortgage. Therefore, you should plan as far ahead as possible. You should also know that there are various interest schemes that your mortgage in Columbus, Ohio may include. Fixed interest mortgages start with a specific rate, and, under the terms of the agreement, that rate will not change. This makes your future repayment options far more predictable.

Some mortgages have variable, or adjustable, interest rates. These often prominently advertise very low interest rates, and inform you in fine print that the interest rate can (and likely will) go up later in the life of the loan. Each interest scheme has strengths and weaknesses, so you should speak with a financial adviser to determine which is right for you.

How Can A Columbus, Ohio Mortgage Lawyer Help?

For most people, purchasing a house is the most important financial decision they will ever make, and is not to be taken lightly. Besides speaking with a financial advisor before taking out a mortgage, it would be a very good idea to speak with a Columbus, Ohio lawyer, who can clarify any parts of the mortgage agreement which aren't clear to you, and advise you on the likely future consequences of taking out the mortgage.

Talk to a Bankruptcy & Finances Law Attorney now!

Life in Columbus

Columbus is the largest city in the State of Ohio. It's also the Ohio State Capital and seat of Franklin County government. Consequently, you're going to find nearly every kind of case in the area should be filed with Ohio State or Franklin County Courts in Columbus. Columbus lawyers are familiar with local court cases like personal injury, divorce, and criminal cases while many others focus on Federal cases link bankruptcy and U.S. Immigration Court cases.

It's not only lawyers and politicians in Columbus; this #1 up-coming tech city was also named Business Week's best place to raise a family in the United States. But the singles scene is Columbus is renown as well. Men's Health Magazine ranked Columbus as the second most sexually satisfied city in the United States and Marie Claire Magazine declared it the 18th best place for a woman to find a good date.

Business is the major propellant behind Columbus' popularity. Five Fortune 500 companies call Columbus home: Nationwide Mutual Insurance Company, American Electric Power, Limited Brands, Big Lots, and Momentive Specialty Chemicals. Columbus is consistently named one of the top 10 U.S. cities in which to conduct business. In 2009 alone, Columbus metropolitan businesses profited over billion. The diverse Columbus economy offers everything from education, banking, energy, defense, and research to logistics, medical, steel, technology, and hospitality. No matter what you business may be, it seems Columbus is the place to go.

USA Travel Guide named the Columbus Zoo and Aquarium the best in the United States adding to the popularity of Columbus as a tourist destination. Top-notch public transportation connecting Columbus' various universities and colleges to the neighborhoods and city attractions. The Ohio Judicial Center is an outstanding of Art Deco style architecture while the Wexner Center and Nationwide Plaza designed by Peter Eisenman offer a contemporary charm all their own.

Clients Rate LegalMatch Attorneys
(click to read reviews)

Ian M.
Ian M.

Bankruptcy, Banking & Credit

Richboro, PA

Eddy H.
Eddy H.

Bankruptcy, Banking & Credit

San Mateo, CA

Howard B.
Howard B.

Bankruptcy, Banking & Credit

Rye Brook, NY