You've managed to find the perfect house, now it's time to apply for the mortgage to secure the financing. But, when it comes to securing your home loan, there are a few buyer mortgage don'ts you should keep in mind: Don't do anything that will cause a red flag to be raised by the scoring system. This would include adding[...]
Today’s Atlanta Real Estate Forum Radio All About Real Estate show welcomes Pam Davis, the senior vice president of branch delivery and operations for Delta Community Credit Union. Many ask, “What is the difference between a credit union and a bank?” Well, in a credit union, the account holders are equal owners of the institution, which means that a credit union[...]
With interest rates and home prices still at historic lows, the market for new homes in Atlanta is still conducive to buying. However, record low inventory levels of both new homes and resale properties means that prices will be going up at a much faster rate than we've been experiencing. If you're looking to buy a pre-sale new home in order[...]
The Consumer Financial Protection Bureau plans to unveil new mortgage rules today that will change how lenders will guarantee that borrowers can repay their home loans. The new rules, which will go into effect in January 2014, were designed to improve consumer safety without tightening credit requirements any further. According to an article in the Wall Street Journal, the rules will[...]
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[...]
FHA Loan: Qualifications, Fees, and Limits Explained FHA loans seem like a great investment, but what do they cost you? The good news is that these loans are more affordable than conventional loans. They are also easier to qualify for, have lower closing costs and large limits. These elements make FHA loans ideal for many people, especially those[...]