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 →

Short Sale & Foreclosure Victims: 6 Reasons You Can Buy Again

Short Sale & Foreclosure Victims: 6 Reasons You Can Buy Again

A Short Sale or a Foreclosure is most definitely not something anyone wishes upon them self or their loved ones. But, if you happen to be one of the many Americans who unfortunately experienced a Short Sale or Foreclosure, The Family Mortgage Team of Atlanta has good news for you! Listed below and in our infographic you’ll see Six Reasons Past Short Sale Sellers can (and ...

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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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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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Do I Need a Large Down Payment?

This is probably the biggest misconception. While it used to be true that you needed a large down payment, this is no longer the case. In the mortgage industry, there’s always a great new product just around the corner that benefits the consumer.  The latest of these to surface is the “zero down” mortgage. This mortgage seems to suit two decidedly different types of borrowers:

Let’s take a look at them individually:

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Can I combine my first and second mortgages?

Oftentimes it may seem like a good idea to refinance to combine a first and second mortgages. If you have enough equity to keep your combined loans under 80% of the appraised value of your home this may work. There are some considerations however.

If you’re existing 2nd mortgage was not used to originally to purchase the home, it will be considered a “cash out” refinance and the lenders will charge a .50 discount point one time fee. Just multiply .0050 ...

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