Dave Miller, Over 20 Years as a Mortgage Loan professional in Central Ohio. 614.975.5894
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Mortgage Advice

September 10th, 2014 12:06 PM

Your First Home Buying Experience

Young couple holding a key
First time homebuyers are often filled with some combination of excitement and fear. It makes sense to feel these emotions, to varying degrees, vacillating throughout the process, but with some careful planning, you can relax and take the experience in stride, one step at a time. Once you find a strategy you can stick with, the overall process will feel much easier for you and your family.


Choose a real estate agent who listens to your concerns and works with you.

The most important thing you can do is find a local real estate agent who listens to your needs, understands the local market and is able to find some sort of compromise that will keep you on budget and happy with the results.

Your real estate professional will help you find home listings you might not have the resources to find on your own, and before other area realtors, plus they can give you a clear and concise overview of the neighborhood and the surrounding community. Your real estate professional will also have a primer on your prospective home’s neighborhood schools, shopping accessibility, recreation and parks availability, traffic volume and any difficulties or partly hidden fees you might encounter during a sale, such as whether you might need to pay homeowners’ fees to the neighborhood association.

Keep in mind that your real estate professional’s fees will come from your eventual home’s seller, and you are under no obligation to choose a real estate agent simply because you meet with them. Take your time and choose carefully.

Instill confidence with a pre-approved mortgage.

For your own peace of mind, as well as home sellers’ confidence in a likely sale, get pre-approved for your mortgage before you make an offer. With this step, each home seller will realize your credit is up to snuff, and the sale should go smoothly. Your real estate agent can help you work through this process, especially when searching for local mortgage brokers. Similar to choosing your agent, you don’t have to accept the first loan that is available to you. Look around to find what is comfortable for you and your family.

Apply for a preapproval here.

Choose the home that truly is best for you and your family.

Once your real estate professional has helped you find a few prospective homes, take your time to make the right choice for you, your family and your future.

Dave Miller 267730/105186

Posted by Dave Miller on September 10th, 2014 12:06 PMPost a Comment (0)

August 22nd, 2014 9:36 AM

Search 100% of MLS Listings

Home Scouting


Start your home search right here. Whether you are just looking, exploring the real estate market or ready to make an offer, the Home Scouting MLS Mobile app provides you with the most accurate and unfiltered MLS data available. The app is available by invitation only so you know it's private and secure, with no advertising, ever.


Find homes near your location
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Post favorites to Facebook and share them with friends & family
View complete MLS property details right from the curb
Effortlessly schedule showings
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Come on; what's the catch?

No catch. Honest. The app contains my contact information. I'm just hoping you'll give me a call first when you are ready to purchase the home of your dreams.

How Do I Start Using It?

It's really convenient and easy to start using. Simply enter the VIP code below when first opening the app and you're off and running! Anyone can use this app. Just forward this email on to them.

VIP CODE: 6149755894

Contact me anytime with questions.


Dave Miller

NMLS# 267730 | Mortgage Loan Originator

(614) 388-8757(614) 388-8757
(614) 975-5894(614) 975-5894

Copyright © 2013 Republic Mortgage Home Loans, LLC, All rights reserved. Equal Housing Lender.

My mailing address is:
975 Worthington Woods Loop | Worthington, OH 43085
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All loans subject to credit and property approval. Mortgage Loan Officer is licensed only in the following states and this is not intended to solicit business from residents of other states. OH MB.804097.000, LO.015186.000

You are receiving this email because...

The Home Scouting Report® (HSR) is a complimentary home finding service provided directly to consumers by Home Buyers Marketing II, Inc., a licensed real estate brokerage services company. The Loan Officer's role is to assist in determining a comfortable home price range for Home Buyers Marketing II, Inc. to use when it is searching for property listings within the buyer's search criteria. The Preferred Loan Officer is neither an employee of HBM II, nor the provider of the Home Scouting Report®. The Cooperating Real Estate Agent and Home Buyers Marketing II, Inc. (HBM Il) are cooperating, licensed real estate professionals. The Cooperating Real Estate Agent is neither an agent nor a broker for HBM II, but works cooperatively with HBM II to assist buyers in their home buying efforts. © 2014 Home Buyers Marketing II, Inc.


Posted by Dave Miller on August 22nd, 2014 9:36 AMPost a Comment (0)

August 20th, 2014 11:38 AM

Middle Class Willing to Move For Housing

Moving house
Whether moving from the city to the suburbs or trekking across the country in search of the ideal job, members of the middle class have long been willing to give up their homes in hopes of obtaining a better standard of living. Continued struggles related to the housing market have contributed to the continuation of this willingness to move, with several middle class professionals abandoning their expensive rentals in New York and California in hopes of scoring relatively inexpensive houses of their own in the Midwest.


Affordable housing can be a struggle to obtain, particularly given the currently saturated rental market. This is less of an issue in some regions, however, with a general lower cost of living extending to the housing market. Those willing to put up with difficult weather patterns and an often less than cosmopolitan lifestyle may be able to slash their housing expenses in half or even more, all while enjoying incomes not far behind what they were netting in more expensive locales.

This newfound willingness to relocate away from the coast is reflected in recent growth statistics for several Midwestern cities. Members of the Millennial generation seem especially willing to ditch their dreams of living the New York City or Los Angeles lifestyle. Many are flocking to Des Moines, Columbus and Fargo. These cities may not seem particularly glamorous, but for the young professional desperate for a little extra spending money and a more stable way of life, a life in the Midwest may be the ultimate solution. In addition to switching regions, many individuals have also proven willing to ditch expensive exurbs for all but forgotten urban and rural areas. This general shift suggests that, at the moment, price rules when it comes to housing considerations.

When you are ready to move call Dave Miller at 614-388-8757 or
apply at www.RepublicMortgage.com/dmiller

Posted by Dave Miller on August 20th, 2014 11:38 AMPost a Comment (0)

Home Improvements that Add Value to Your Home

select color swatch to paint wall
When deciding whether to remodel your home, it’s important to think about why you want to do it. While every project will hopefully add to your enjoyment of your home, the costs of some projects will far outweigh the financial value they add to your home. If you’re looking at a remodel as an investment, steer towards the following projects.


New Exterior Doors and Windows

Refreshing your entry doors, garage door, and windows can greatly increase your home’s curb appeal. This will get buyers into a positive mindset as soon as they see the first photo of your home or drive up for the first time. Better still, the average return on investment for this remodel is over 70%.

Refacing Cabinets

Your kitchen cabinets are one of the most visible fixtures in your home, and have a huge impact on
how people perceive it. Old, worn cabinets can drop your home’s value significantly. That doesn’t need you need to replace them, though. A simple refacing and refinishing project will cost just a few hundred dollars and make them look good as new.

Add a Bathroom

If you have a large budget, adding a bathroom might be the way to go. Buyers now value bathrooms more than kitchens. Depending on the home, a new bathroom can add up to 20% to its value while a half bath might add 10%.

Add a Fresh Coat of Paint

If you only choose one project, give your home a fresh coat of paint. When buyers come to your home, you want them to envision moving into a fresh space not into a space covered with years of scuff marks, hand prints, and other wear. While you can do it yourself, for the best look, go with a professional painter.

Dave Miller

Posted by Dave Miller on August 1st, 2014 6:53 AMPost a Comment (0)

Spring is right around the corner, and more people will be looking for a new place to call home. Fortunately, mortgage interest rates are dipping just in time for the spring rush, leading to improved affordability for most home buyers.

Current Interest Rates

According to the Freddie Mac’s Primary Mortgage Market Survey (PMMS), rates have fallen again after a two-week period of increases. At the end of the week, borrowers with good credit could secure a fixed rate 30-year mortgage with an interest rate of only 4.34%. These are down from 4.53% in early January. The rate for a 15-year mortgage also fell from 3.55% to 3.38%.

Building Equity

Not only do lower interest rates lead to lower payments, but they also speed up equity accumulation. Every mortgage payment is divided into interest and principal. During the earliest years of your mortgage, a greater amount of each payment goes toward interest. In fact, according to the Mortgage Reports, early mortgage payments during 2009 were composed of 85% interest and only 15% principal. However, early mortgage payments under today’s rates are composed of 78% principal and 22% principal. This means that equity accumulates much faster, allowing you to refinance sooner, make a bigger profit when you sell or simply build wealth more quickly.

Posted by Dave Miller on April 17th, 2014 10:17 AMPost a Comment (0)

As a result of the recent great recession many people experienced unemployment
or other severe reductions in income that caused them to lose their homes to a pre-foreclosure sale, deed-in-lieu, or foreclosure. Some folks were forced to file for bankruptcy to discharge or restructure their debts. Because of these recent recession-related periods of financial difficulty, their credit has been negatively affected.

Help is here! As of August 15th, 2013, FHA is allowing borrowers who have experienced an Economic Event and can provide the proper documentation to verify that event, to
be eligible to buy again in one year after the event.


What Are Documented Events:

  • Certain credit impairments were the result of a Loss of Employment or a significant
  • loss of Household Income beyond the borrower's control;
  • The borrower has demonstrated full recovery from the event; and, 
  • The borrower has completed housing counseling.  


Borrowers will have to show that they experienced an "economic event" and their household income fell by 20% or more for a period of at least six months. They must
also demonstrate that they have fully recovered from the event, and have previously attended Homebuyer Counseling at least 30 days prior to the application, but no more than 6 months.

It seems like a lot of hoops, but we are doing these loans.


Call me for more details at 614.388.8757  or email at davemillerloans@gmail.com

Posted by Dave Miller on February 27th, 2014 9:29 AMPost a Comment (0)

February 8th, 2014 11:24 AM
Underwater On Your Mortgage Loan in Ohio?


If you are a Ohio home owner that is underwater on your existing conforming or conventional mortgage, you may be eligible for a refinance without paying down ANY principle, without paying mortgage insurance, and in many cases, without spending any money out-of-pocket.

HARP, the acronym for Home AffordableRefinance Program, is a financial aid program announced by the US federal government in 2009 to help millions of homeowners who are either near-underwater or underwater (means you have zero - or even negative - equity in your home) to refinance into a fixed loan with lower monthly payments.

HARP 2.0 - Help For Ohio Home Owners

The modified HARP program - HARP 2.0, also referred to as The Making Home Affordable Program, the DU Refi Plus Program, and/or the Obama Refi Program - is specifically targeted towards Ohio homeowners having a loan-to-value ratio less than 125 percent.

However, an additional guideline change to HARP 2.0 actually lifted the loan-to-value restrictions. So, Ohio borrowers with a loan-to-value ratio even greater than 125 percent can now apply to this program.

HARP 2.0 gives Ohio homeowners the ability to refinance at today's low mortgage rates without private mortgage insurance, exorbitant closing costs and fees, and in most cases without an appraisal. If you have been turned down before for this program, you will certainly want to re-apply for HARP 2.0.

In order to qualify for HARP assistance, the basic eligibility requirements are:

1. Your loan must be backed by Freddie Mac or Fannie Mae

2. Freddie or Fannie should have bought your mortgage prior to June 1st, 2009.

Unfortunately, Ohio homeowners rarely know who "owns" their mortgage loan. Normally, homeowners receive their monthly statements, and make their monthly payments, to their mortgage servicer. This is usually not the company that provided the funds originally to make the loan.

You can check "lookup" forms on the Fannie Mae and Freddie Mac web sites. However, keep in mind that these web forms are not always accurate as the address would have to be exactly the same as was recorded with Fannie or Freddie.

USDA, FHA or Jumbo mortgages are NOT HARP-eligible.

The most noticeable and major changes in the HARP 2.0 program are:

  • Elimination of underwater limits which implies that Ohio borrowers now have the opportunity to refinance regardless of the fallen values of their homes, whereas loan-to-value limits were previously prefixed at 125 percent.
  • Underwriting and appraisals have been eliminated and homeowners need neither appraisals nor their loans underwritten. This makes the refinancing process much faster and smoother.
  • Fees have been modified for shorter-term loans or abolished and the deadline for getting a HARP refinance has now been stretched to Dec. 31st, 2013.

Your Next Step...

Applying For The HARP Program – Making Home Affordable Refinance

Getting approved for a HARP 2.0 refinance involves the following steps:

Step 1: Find out if your mortgage is owned by Fannie or Freddie & Eligible For The HARP Program

Step 2: Print the HARP 2.0 Checklist

Step 3: Submit your HARP Online Application

Step 4: Meet with Dave Miller to go over the final numbers, closing date, etc.

If you have any questions or concerns, please don't hesitate to call my office at 614-610-4245 or email me at davemillerloans@gmail.com . I am here for you!

Posted by Dave Miller on February 8th, 2014 11:24 AMPost a Comment (0)

January 21st, 2014 7:12 AM

Not Jumbo the Elephant!
Jumbo Mortgages Are Back. 

What is a Jumbo Loan?
A jumbo loan is a mortgage above $417000. They are used to buy expensive homes. Typically, the interest rates are higher than regular loans.

Purchase Jumbos at 10% Down With No PMI.
Most lenders require 20% down payment on Jumbo mortgages. At Affinity Group Mortgage, we offer 10% down on Jumbo purchase mortgages and that is with no mortgage insurance. Any purchase you are considering above $463,333, please call me at 614.975.5894. Rates are still great!

Refinance loans above $417000 with only 10% equity.
If you are still at a high rate on your current mortgage and the value of your home has recently increased so you have 10% equity, call me at 614.975.5894. We offer refinances with 10% equity and no mortgage insurance.

During the housing industry's recent dark days, the market for jumbo loans dried up. Only the best bank customers were able to secure financing on high priced homes. Today, with the recent economic upturn, demand for big loans is on the rise. Jumbo loan originations totaled $203 billion last year. If the first quarter volume of $54 billion continues, we will hit $216 billion this year.

So if you are considering moving up to a more expensive home or are at a high rate on your current mortgage, we may have an answer for you. Jumbo loans are back! Visit us or apply for a mortgage at

Posted by Dave Miller on January 21st, 2014 7:12 AMPost a Comment (0)

December 19th, 2013 10:13 AM
After yesterday's Fed "tapering of the stimulus" announcement, I have had many people, who are thinking about refinancing, ask me what is going on with rates? Friends, they are going up!  It doesn't mean  rates are going into double digits, but the pressure is definitely up. The problem for someone considering refinancing is that every increase in rate means you will pay more interest over the life of your loan. The purpose of this email is to get clients to stop procrastinating and get motivated to take advantage of today's rates, not next years! 

There are multiple factors influencing mortgage rates over the next few months and each may drive rates up, but together they could have a significant impact.  The uncertainty alone is justification to lock in now.


I have listed below several reasons why now is the time to move forward.


1.The Federal Reserve announced the first “taper” in their Bond Buying, aka QE3. The mere fact they feel now is the time to adjust their course is a significant statement regarding the future of the economy and thus the rates. The Federal Reserve has been propping up bonds, which has kept rates low. If they have decided to back off, what do you think will happen to rates?

2. Fannie Mae/Freddie Mac, the largest buyers of mortgages, announced an increase in their LLPAs (loan level price adjustments).  These are costs added to the mortgage rate based on certain factors such as credit score, ARMs or fixed, Condo, cash out, etc. The Mortgage Bankers Assoc. "estimated net impact on a borrower could be a half point increase in the interest rate, costing borrowers thousands over the life of the loan". These increases go into effect April 1st.


3. Home prices are increasing. Demand for mortgages usually has an upward effect on rates. "Core Logic said 791,000 more residential properties returned to positive equity in the third quarter. (This could increase refinance opportunities for those that did not qualify before, which would put upward pressure on mortgage rates)".

4.Political progress on the Budget.  With the House and Senate passing the two-year budget framework this could provide more certainty for the economy as it tries to gain strength.  This could be good for jobs, wages, housing, and expansion yet could have a negative effect on interest rates.


5. CFPB Rules take effect in January.  Ratios will be more restrictive and eliminate many borrowers from qualifying. As we have seen with other major Regulatory Reforms, such as RESPA/TILA, it can have a destabilizing effect on the mortgage market and drive up the cost of compliance for lenders which will be passed on to the consumer in higher interest rates.


While this could all cause Holiday Dinner Heartburn now, it is a reason to consider moving forward with refinancing before all of the changes come into effect. No one has a crystal ball that predicts where interest rates will go in the future, but the above mentioned 5 points have historically lead to higher interest rates. Take heed.



Posted by Dave Miller on December 19th, 2013 10:13 AMPost a Comment (0)

Did you know the government backed HARP 2.0 mortgage refinance program is available for investment properties? Even if you have up to 10 mortgages, you may still be able to refinance to lower HARP rates. If you have PMI currently, we are able to transfer PMI from the current loan to the new loan in most cases.

Most HARP 2.0 loans do not require an appraisal which saves money on closing costs. Rates are still very good. If you were turned down before, you should call us, because there have been changes to the program. There are still thousands of people eligible that don't think they are. Could that be you?

What is the HARP 2.0 Program? The original modified HARP program - HARP 2.0, also referred to as The Making Home Affordable Program, the DU Refi Plus Program, and/or the Obama Refi Program - is specifically targeted towards Ohio homeowners having a loan-to-value ratio less than 125 percent. However, an additional guideline change to HARP 2.0 actually lifted the loan-to-value restrictions. So, Ohio borrowers, even real estate investors, can now refinance under this program.

HARP 2.0 gives Ohio homeowners the ability to refinance at today's low mortgage rates without private mortgage insurance, exorbitant closing costs and fees, and in most cases without an appraisal. Wouldn't it be nice to increase your cash flow on your rentals with a lower payment? Because we have done so many harp loans, we have ironed the bugs out and the process is smooth. Am I Eligible?

Call me at 614.388.8757

Posted by Dave Miller on December 10th, 2013 12:16 PMPost a Comment (0)


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