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Today’s guest on Atlanta Real Estate Forum Radio’s All About Real Estate edition is Angela Newman, a loan originator with First Option Mortgage.
It’s no secret that this is a great time in real estate. With interest rates so low, now is the time to buy, sell or refinance a home. First Option Mortgage launched in 2004, is headquartered here in Atlanta, and offers hassle free mortgage options. Unlike other mortgage offices that have hidden fees, First Option Mortgage has a one-time $995 fee, which helps mortgage seekers save money as they search for their dream home.
First Option streamlines the process to make the sometimes-difficult homebuying process easier and the lender traditionally closes loans in 30 days. Angela explains, “I really do try to make it as simple as possible and we do all of the digging in the ditches if you will, it’s what we do, that’s our job. We are extremely realistic about what you’re looking forward to in terms of time and what the market is proposing for rates. We’re up front with you from day one.”
When preparing to apply for a home loan, Angela explains that a well-educated customer is a well-armed customer. She explains, “For every borrower on that mortgage application, there should be no more than four or five revolving accounts. We have pulled credit and have seen people with 12 and 18 cards. You may be paying the cards on time but you are overextended in revolving credit. These are the things people don’t know.”
Angela adds that the most common mortgage questions involve how to become qualified for a loan and how to begin with the mortgage lending process. The best first step is to reach out to a mortgage lender who can help provide advice and guide a customer through the process.
We all know the interest rates are currently low, but there are whispers of them rising in the near future. Angela cautions consumers that it’s probably not smart to try to predict what will happen with rates. The unpredictable nature of interest rates makes it even more important to take advantage of the low rates now.
For first-time home buyers, Angela advises preparing beforehand. The time before buying is when a first-time buyer needs to get credit scores up and save money. Angela explains, “If you are a first-time home buyer, keep your accounts current. If you have student loans, get those in order. Save your money, and get ready for your down payment which is anywhere from three-and-a-half to five percent.” Angela adds that financial reserves may be needed in addition to the funds saved for down payment, as the seller may or may not be paying closing costs on the home and money will be needed for moving and utilities for the new home.
First Option Mortgage offers a variety of lending options for the Atlanta home buyers. For additional information on First Option Mortgage and its services, visit www.FirstOptionOnline.com or contact Angela Newman at 678-460-1757.
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Atlanta Real Estate Forum Radio’s “All About Real Estate” segment airs on Fridays and highlights the movers and shakers in the Atlanta real estate industry – the home builders, developers, Realtors and suppliers working to provide the American dream for Atlantans. For more information on how you can be featured as a guest, contact 770-383-3360 or via the contact form on this site.
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