If you are thinking about upgrading your home or purchasing a home that needs some work, we specialize in providing Renovation Loans that work wonderfully for these situations. We have contractors that we work with, on our timeline, allowing for a 30 to 35-day process to closing. Typically, you can finance all the improvements because the loan allows for us to lend based on an “as completed” Appraisal. In other words, the appraiser will take into consideration all the ...Continue Reading →
Explore These Options to Finance.
Whether you are looking to freshen up or expand your existing home or a new home you are considering purchasing, the question always comes up about how to pay for this. The answer to this question depends somewhat on how much you are talking about financing and how long you believe it will take you to repay. Let’s take them one at a time. If you are trying to renovate the home you ...Continue Reading →
In our last newsletter, we mentioned that we had met a highly recommended individual who specializes in Property Tax Appeals. Below is a primer on how the process works.
Each of the 159 county assessors’ offices in Georgia now automatically issue annual assessment notices to all parcel owners. This is typically done between April 1st and June 30th with a 45-day window in which the property owner can file an appeal to contest the assessed value as determined by the County. ...Continue Reading →
What does the appraisal report contain?
Each report must reflect a credible estimate of value and must identify the following:
The client and other intended users.
The intended use of the report.
The purpose of the assignment.
The type of value reported and the definition of the value reported.
The effective date of the appraiser’s opinions and conclusions.
Relevant property characteristics, including location attributes, physical attributes, legal attributes, economic attributes, the real property interest valued, and Non real estate items included in ...
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 ...Continue Reading →