When you’re searching for a new home in metro Atlanta, one of the many important decisions you must make is which mortgage is the best option for you. There are a wide variety of loan products available to home buyers, from adjustable rate mortgages (ARMs) with 30-year fixed rate mortgages. How do you know which option is right for you? According[...]
“What all is included in my mortgage payment?” All home buyers find themselves asking this million dollar question as they prepare to purchase their new home. There are many factors that make up the payment homeowners see each month. The two largest components of the monthly mortgage payment include the principal payment and the monthly interest charge. The rest of the[...]
Over the last month, mortgage interest rates have been falling, making now an excellent time to purchase a new home in metro Atlanta. Academy Mortgage is excited about the lower interest rates and the fact that it is more affordable to purchase a home now than it was just a month ago! Home buyers paying a mortgage on a home priced[...]
While most home buyers understand that having a good credit score is important when financing the purchase of a new home, they may not be aware of the steps they can take to improve the little number that makes a big difference. If your credit score is low or your credit history is less than perfect, Keystone Homes offers these[...]
In this week’s edition of Mortgage Minutes, Academy Mortgage explains the difference between a consumer credit score and a mortgage credit score. The number one question that loan officers receive from Atlanta new home buyers in regards to credit scores is, “Why is it that when I pull my credit score, it is different from what a mortgage lender sees?” There[...]
The number of applications rose and mortgage rates continued to stay low, despite yet another announcement from the Federal Reserve that it would further taper its stimulus down to just $65 billion per month. According to the most recent numbers from the Mortgage Bankers Association, mortgage applications rose 0.4 percent in the week ending Jan. 31, 2014 compared to the week[...]
When Starkey Mortgage (WR Starkey Mortgage, LLP NMLSR #2146) helps a client decide which option would best meet their mortgage needs, there are a number of factors that we keep in mind. Borrowers who are settled enough to stay in their home for more than five years may find their safest option is the fixed rate mortgage. Fixed rate mortgages[...]
What will my downpayment be? Mortgage banker Travis Evans with Academy Mortgage hosts this week’s mortgage minutes, where he discusses how down payments for Atlanta real estate varies depending on the type of mortgage you get. Travis states that there is no specific amount that you can expect to pay on the down payment for your home until you determine the[...]
One of the most important facets of obtaining a mortgage for your new Atlanta home is the appraisal process. It is a huge part of the loan approval process; the lender wants to be sure that the property you’re buying is worth at least the purchase price that you’re paying for it. While the lender wants the value of the[...]
The term short sale is repeated quite often when discussing mortgage loans, but not many people truly understand what a short sale is or how they can affect you. A short sale occurs when you sell your home for less than what you owe on the mortgage and you are not required to pay the difference. For example, if you sell[...]