Talley Street Lofts are now Approved for FHA Loans

It seems all of the factors are lining up perfectly for purchasing a new Atlanta condo at Talley Street Lofts. The community is now approved for Federal Housing Administration (FHA) loans, this in addition to offering no property taxes until 2009 and $7,500 federal housing tax credit to first-time homebuyers really makes it a breeze to purchase a new home in Decatur. Of course, with the conditions being so appealing, you will want to make it to Talley Street lofts sooner rather than later because only 18 homes remain available in the community.

Talley Street Lofts, an intimate community of just 90 lofts, combines unique architecture with brick, stucco and appealing corrugated metal exteriors, offers the convenience of big city living in an village atmosphere and is affordably priced from the mid $100,000s to the low $200,000s.

There is no better time to buy and Talley Street Lofts is the perfect place for first-time home buyers. Not many condominium or townhome communities are FHA approved. In order to obtain approval the community must be 51 percent sold. However it is a huge assest to receive this approval as FHA loans offer several benefits to first-time homebuyers. Only a small down payment is required, just 3 percent of the sales price, and that down payment can come from an acceptable gift source, including non-occupying co-borrowers to assist with purchase. Very little credit history is required. There are no income limits and the guidelines are more flexible with FHA loans. And finally the up front and monthly mortgage insurance is reasonably priced.

The one- and two-bedroom floorplans at Talley Street Lofts range in size from 700 to 1,200 square feet. To balance the feel of the homes, traditional loft features and updated amenities have been incorporated in to the open floorplans. Features include hardwood floors, granite kitchen countertops, stainless steel appliances including a side-by-side refrigerator, 10-foot ceilings, floor to ceiling windows, brushed chrome hardware throughout, covered balconies and bike racks. In addition, all homes come standard with a full size washer and dryer. Allowing homeowners to stay connected, high speed WiFi Internet is available in all units as well as all common areas.

Be sure to come check out these loft condos in Atlanta as I didn’t even touch on all of the fabulous amenities or the exceptional location in historic downtown Decatur. Remember having only 18 units available means it won’t be long before this exceptional community is sold-out. If you are a first-time homebuyer in Atlanta, be sure to put Talley Street Lofts on your list to check out.