Mortgage Calculator Columbus Ohio
Determine how much home you can afford using our simple mortgage calculator.
CASTO Residential Realty works with several lenders throughout Central Ohio with lending programs that will fit your needs.
The CASTO Home Buying Process
First things first, let’s get acquainted. We’ll meet to discuss what you want in a home. During our discovery phase, we’ll cover topics such as your ideal location, school districts, your immediate needs, and what you can afford. All these things are very important when purchasing a house, which is why CASTO Residential Realty will walk you through each step of the process.
Obtain a Pre-Approval Letter
A pre-approval letter from a mortgage lender helps you to understand the type and size of mortgage that you will qualify for and shows the seller that you are a qualified buyer. If you are at the very beginning of your home buying process, we can help you find a lender who you are comfortable with and will work with you one-on-one.
Select & View Properties
Present & Negotiate Offer to Purchase
Once you find the home that you love, CASTO Residential Realty will help you submit an offer outlining the terms that you agree to purchase the property. Be ready for some back and forth negotiations along the way — but don’t worry, we will be with you every step of the way. We are expert negotiators and will act on your behalf to make sure that you get the best deal possible!
Accept the Contract
Congratulations — you’re in contract! Now the real work starts! CASTO Residential Realty will lead the transaction to make sure it is as seamless and stress free as possible.
Order Inspections & Request to Remedy
Make a Formal Loan Application & Obtain a Good Faith Estimate
Notify your lender immediately after going into contract. Communication between the lender, title agent and your REALTOR® is established outlining the timeline for certain performance measures, including appraisal, loan commitment, title commitment and closing.
Secure Homeowners Insurance
Call your insurance agent and get a quote on insuring the property. The first premium payment is often taken at closing.
Final Walk Through & Financials
Closing & Possession
Your REALTOR® will coordinate the closing. All loan documents are signed and deed to the property is transferred, keys are exchanged, any earnest money taken at the contract signing is returned and your down payment is paid. Congratulations, you are a new homeowner!
Our of Pocket Expenses
Let’s Break Down the Costs
Earnest Money Deposit
An Earnest Money Deposit is often part of an accepted purchase contract as evidence of good faith. The deposit may be held by CASTO Residential Realty or the title company. Earnest Money is returned at closing, or maybe applied toward the down payment or closing costs. A typical Earnest Money Deposit ranges in size from $1,000 to $5,000 depending on the purchase price of the home.
A typical home inspection costs between $400 – $500. A radon test is another common test that increases the cost of the inspection by about $100. Less common tests include a mold test and opinion from a structural engineer. These tests may be recommended by the home inspector if they see evidence of something that is outside of their area of expertise.
A lender may require you to cover the cost of the appraisal upfront; otherwise, it will be taken at closing.
Down Payment & Closing Costs
Required at closing and depends on the type of loan that you receive and the purchase price of the home. All closing costs, prepaid interest, homeowner’s insurance premiums and escrow funds required for closing will be outlined on the closing statement created by the title company.