Your Atlanta Renovation Loan Guide

Your Atlanta Renovation Loan Guide

For a long time the real estate market was saturated with foreclosures. In fact, according to one expert, 60% of real estate sales in recent years have been through foreclosures and short sales. Over time, most of them have cleared out and the ones that still remain are in conditions that most buyers think they don’t have the money to fix.

Enter the renovation loan. In many ways, purchasing a home with a Continue Reading →

Turn your home into your Dream Home with One Simple Loan

Turn your home into your Dream Home with One Simple Loan

We hear it all the time, I live in the perfect location, great school district but if only we could… Let’s see; renovate the kitchen and bathrooms, add a sunroom, finish the basement, build a swimming pool, put an office over the garage or even add a second floor to our house. You get the idea, it is nice to dream. But maybe these sorts of renovations aren’t just a dream. In One Simple Loan with The Family Mortgage Team ...

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Shopping for a mortgage: How can I be sure I’m comparing apples to apples?

Shopping for a mortgage: How can I be sure I’m comparing apples to apples?

Once you are satisfied that you are working with a top-quality professional mortgage advisor, here are the rules and secrets you must know to “shop” effectively.

First, IF IT SEEMS TOO GOOD TO BE TRUE, IT PROBABLY IS. But you didn’t really need us to tell you that, did you? Mortgage money and interest rates all come from the same places, and if something sounds really unbelievable, it’s better to ask a few more questions and find the hook. Is there ...

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Fixed Rate Loans Vs. Adjustable Rate Loans

Fixed Rate Loans

These loans are fixed for either a 10, 15, 20, 30 or now even 40 year period. They are amortized over the period of time you select, so the shorter the period the larger the monthly payment will be. Also, the shorter the time period you select the more significant the interest savings will be over the term of the loan. But one note of caution is that you should make sure that you ...

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Interest Only Loans

Interest Only Loans

With an Interest-Only loan, home buyers are able to choose their monthly payment and can do one of a few things: They can qualify for a more home, keep more of their cash in reserve or to save for retirement, pay down high-interest debt, or make home improvements.

Interest-Only loans offer you:

  • Possibility for lower monthly payments: for the first 10 years of the mortgage you can choose to pay interest only – plus any portion of the principal that you would ...
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Factors That Affect Home Mortgage Rates

Home loans can be generally placed into one of four categories; Conventional, Alt-A and Sub Prime and second mortgages/home equity lines of credit. We will briefly touch on what impacts rates for each of these types of loans.

Let’s start with the most common, conventional loans. Fannie Mae and Freddie Mac are quasi governmental agencies that set the guidelines for what is considered a conventional loan. If a loan meets Fannie or Freddie ...

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