If you’re searching for a new home in one of metro Atlanta’s many resort communities, you may wonder how it can affect your home loan options. Academy Mortgage, an independent mortgage lender with offices in Atlanta, has options for every buyer, whether the home will be your primary residence or a secondary home for long weekends away.
If you are purchasing a home at a community that offers a resort lifestyle as your primary residence, you will still be eligible for a standard loan that requires just a five percent down payment. If the purchase is for a secondary home, you can still receive the same interest rate as if it was your primary loan. The only difference is that you will be required to pay a slightly higher down payment of just 10 percent.
Many resort communities, such as the ones that line the shores of Lake Lanier, offer a wide variety of home prices, particularly if they offer lakefront property. If you are looking at a larger home that is located directly on the water, you will likely need a jumbo loan. Jumbo loans require just a 20 percent down payment, and now is a great time to purchase one of these products, as the jumbo market is beginning to heat up!
If you are considering purchasing a new home in one of the many resort communities found throughout metro Atlanta and northeast Georgia, be sure to contact Academy Mortgage to find out what products are available. You can reach Academy Mortgage’s Atlanta office by calling 404-713-8662 or visiting www.AcademyMortgage.com/Atlanta.com.
Equal Housing Lender. (c)2013 Academy Mortgage License #3113. GA Lic. # 20505. This is not a commitment to lend. Academy Mortgage Atlanta: 5565 Glenridge Connector, Suite 400. Atlanta, GA 30342. Georgia Residential Mortgage Licensee.