Episode 06: Home Loan Options to Save You Money with Mike Ricketts

During this sixth episode of Intelligent Equity, host Ryan Kiefer welcomes Mike Ricketts, Senior Loan Officer at PrimeLending. Mike discusses the multitude of Ohio loan programs for first-time home buyers, including those best suited for home buyers with low credit scores. Mike also offers his expertise on how to find the best loan program to suit your specific needs and save you money.

Episode Highlights:

• Mike Ricketts explains the Ohio Housing unassisted loan program, and how it provides below market interest rates
• The qualifications for the Ohio Heroes loan program
• Mike outlines the assisted loan program, and what the grant can be used for
• The definition of a first-time home buyer
• Ryan Kiefer highlights a popular myth surrounding who is eligible for first-time home buyer loan programs
• The qualifications for the Ohio Housing Next Home loan program
• Mike discusses the requirements for the down payment assistance grant to be forgiven
• Who would benefit from the Ohio Communities loan program?
• Mike Ricketts explains the loan programs that may be best suited for home buyers with low credit scores
• Do the loan programs ever expire, or run out of money?

3 Key Points:

1. Ohio Housing unassisted loan programs provide access to below market interest rates, while assisted loan programs provide a grant payable towards down payment or closing costs.
2. There are a multitude of loan programs available to first-time home buyers in Ohio, but buyers need to investigate which companies offer what programs.
3. Some loan programs are seasonal, some run out of money, and some are available year round. The consumer will need to make sure to ask about what programs they may qualify for.

Resources Mentioned:

• Linkedin: Ryan Kiefer
• Mike Ricketts