Senior Mortgage Loan Officer: Coven R Molinar NMLS: 1067304

07/10/2024

In Real Estate, you are only as good as your worst transaction - and how you handle it. I have had my fair share already and I’m sure I will have more in the future. Few were at the fault of myself and many were not, however you still own it with accountability and professionalism. Communication is key. Expectations are paramount. I pride myself on that.

If these qualities are important to you, I would love to work with you. Agent, buyer or seller - I have no qualms that I will help you succeed. This is a very tough business as it is without the market hindering anyone’s success or emotions. Don’t let business partners have any affect over that. Most importantly, don’t work with people you don’t like.

I would love to be of service to you, however I can!

01/08/2024

I post something of this nature year in and year out. Give me 3 minutes of your day - if applicable.

Business owners; I fully understand wanting to take advantage of any and all tax breaks you can get (and the rare opportunity to stick it to the man). However, please do yourself a favor and have a meaningful conversation with your accountant, TurboTax or otherwise, before you file. 1 year of fillings can put you onto the ledge of qualification or decline. Your goals and aspirations need to be of consideration prior to filling federal income documents that you will be bound by.

What I am really saying is to take the taxes you potentially could owe on the chin, and pay it. That in itself will pay dividends to you when you are coming to buy a house.

"Well my friend said... but my coworker did..." yeah, maybe. There are other creative ways to do things, sure. But if you want to avoid the whataboutism's and navigate a home purchase a lot smoother... the gut punch of footing Uncle Sam's bill is the route you want to take.

12/05/2023

The FED plans to cut interest rates 6 times in 2024. They have realized their actions of this year cannot continue for long without the possibility of massive loss for normal Americans.

With that said, this DOES NOT mean 6 mortgage rate cuts. These are short term loan rates. Such as car loans, credit cards, etc. The FED does not dictate mortgage rates.

Interest rates are driven most closely by the 10Year Treasury note. Which is still currently elevated to some of the highest levels of the last 2 decades. Inflation, unemployment and consumer spending highly influence that 10YT note; positively and negatively. I think we will begin to see a lot of the built-in fees from investors such as Fannie Mae and Freddie Mac begin to trickle away. Thus, making rates settle into their normal spread of 200BPS from the 10YT to current MBS coupon pricing. Currently it’s about 300BPS, which means higher rates because, well they can, and also in an attempt to avoid taking losses on loans they know will be refinanced immediately.

Lastly, if rates decreasing will push you into the market of purchasing, it will also push 10s of thousands of other Ohioans into the market as well. Get ahead of the curve now. You can refinance later on. It’s inevitable that everyone will again.

How may I be of service?

11/29/2023

The new conforming loan limit is $766,550 for a primary residence. Single dwelling. The minimums increase significantly for multi-unit dwellings (see link provided).

For example, if you are buying a property for $850K (almost normal these days) the maximum loan you can have on that property is $766,550. Meaning you would need the lesser as a down payment.

That amount has increased $349,550 since I began my journey in finance (2013).

Now imagine leaving earned equity on the table while you pay for an apartment or home that you don’t own.

The baseline conforming loan limit for mortgages backed by Fannie Mae and Freddie Mac in 2024 will be $766,550.

04/25/2023

5.0 star review received on Experience.com for Coven Molinar by Bradley B - Coven is well spoken, intelligent & honest. He definitely knows the finance industry very well & has the resources to get you in the best possible position for the loan/mortgage you’re looking for. We had a TON of questions & he answered them quickly no matter what time it was. Overall I would certainly recommend Coven to anyone who needs financial advice regarding a mortgage loan. Great person & great friend!

Click to see all 10 reviews of Coven Molinar, Branch Leader

03/08/2023

5.0 star review received on Experience.com for Coven Molinar by Kayla N - Coven was amazing to work with during our home buying process. Coven answered all our questions and was always quick to respond.
Thank you!

02/05/2023

5.0 star review received on Experience.com for Coven Molinar by Jordan F - we are first time home buyers and coven walked us through the process/explained everything in detail to better our understanding.

Click to see all 8 reviews of Coven Molinar,
Branch Leader

01/25/2023

5.0 star review received on Experience.com for Coven Molinar by Austin M - Coven was exceptional at keeping me in the loop with all things going on. Great response time whenever I had any questions and just made the overall process so much less stressful.
Highly recommend from a first-time home buyer!

Click to see all 6 reviews of Coven Molinar,
Branch Leader

01/24/2023

5.0 star review received on Experience.com for Coven Molinar by Mandy M - Coven is always the best. Being able to sit back and letting a subject matter expert like Coven do all the thinking, knowing that he has your best interest in mind, is such a privilege. 10/10.

Click to see all 5 reviews of Coven Molinar,
Branch Leader

11/04/2022

Homebot is a monthly financial dashboard that enables you to maximize the wealth from the single largest asset you will ever own.

10/19/2022