You have negotiated an offer on your new Atlanta home, and you’re working with a lender. Your application has been accepted and (cross your fingers here) everything is looking good for closing on time. There’s so much to do between now and then. Let’s talk about the things you should NOT be doing. You should NOT be out making huge[...]
There was a time, pretty recently, when it seemed new home buyers got a home equity line of credit almost as soon as they moved into a new home. Banks were eager to lend and, according to the Equifax Personal Finance Blog, homebuyers were using home equity lines for non traditional purposes. In her article, “ Credit Trends: Super-Prime Consumers Tap Home Equity[...]
Many homeowners who sell in the current market are making less on their home than they anticipated. When it’s time to buy the next home, they don’t have as much for a down payment as they would have liked – or maybe even as much as they need. While it seems unfair that lenders would start requiring larger down payments when[...]
If you are in the market to buy a new Atlanta home, you know that the down payment can become an instant deal breaker. With the current state of the economy, lenders are demanding a decent sum to put down on a house. Besides winning the lottery (chances are this won’t happen), how can you come up with a viable[...]
Breaking a mirror is said to cause seven years bad luck. If that is the case, then what happens if you walk away from your Atlanta real estate loan? Defaulting on your home loan can mean seven years before you can obtain a new one. If your mortgage is underwater and you are thinking about walking away from your Fannie[...]
If you’re contemplating buying a new Atlanta home, remember what all mortgage lenders are looking for in a relationship. It’s similar to what all of us want: someone well rounded and reliable with no skeletons in the closet. There’s no need to fill your shelves with self help books to get yourself ready for this relationship, though. Just go to the Equifax[...]
When you are looking for a new home in Atlanta, it helps to know the financing options that are available to you. The more information you have, the more confident you will be that you’re choosing the mortgage loan that’s right for you. Here are some different types of mortgage loans to consider: Fixed-rate loans If you’ve found a home you plan[...]
USDA Rural Development loans are proving to be a bright alternative among the seemingly ongoing restrictions and regulations that preclude many potential first time buyers from home ownership. Offered through the US Dept of Agriculture (USDA) to promote and stimulate home sales and development in rural areas, Rural Development (RD) loans have been a silver lining in an otherwise challenging[...]