First Time Homebuyers Golden Opportunity

First Time Homebuyers Golden Opportunity

This spring has been an exceedingly vibrant market in metro Atlanta for housing. Inventory levels are up 12% from this time last year. This is providing buyers more options to look at although it is still very competitive. The difference this year is that deals are happening at a faster clip than a year ago. Buyers seem to be having more success this year getting their offers accepted. Part of this is that our clients are taking the time to ...

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The American Express Payment Problem

The American Express Payment Problem

Part of the mortgage qualification process includes what is called your debt to income ratio (DTI). This your gross monthly income divided by the lump sum total of your proposed housing payment and any other monthly obligations that show up on your credit report. This would include car payments, student loan payments (this links to our other post on these payments), and minimum payments on any revolving charge cards. These are typically a very small percentage of the ...

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Online Real Estate Platforms to Avoid

Online Real Estate Platforms to Avoid

There are a flurry of new services out there attempting to upend the traditional real estate agent model. Offer Pad, Open Door and Zillow Offer, just to name a few. They are exploding our mail boxes and TV advertising with compelling offers. We will buy your house for cash, eliminate the Realtor and make a seamless move to your next house. Sounds fantastic on the surface. Problem is that they will never offer you close to what the true market ...

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Does Your House (or a House You are Looking at) Need Some TLC?

Does Your House (or a House You are Looking at) Need Some TLC?

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 ...

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The Single Best Way to Get Your Offer Accepted This Spring!

The Single Best Way to Get Your Offer Accepted This Spring!

If you are contemplating a move this year, you have picked the perfect time. Interest rates are very low again, and there is more inventory coming on the market than in years past. In the latest statistics from January, inventory levels are up 17% year-over-year. That is a good sign given that most buyers have not had a lot of choices over the past couple of years, relative to historical inventory levels. That said, demand is high and we ...

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Another New Year…

Another New Year…

And you know what that means: It’s time for my annual Real Estate & Mortgage Predictions! After researching my mortgage knowledge base for 2019, the following is my take:

Interest Rates are not moving a whole lot – Between the trade wards, fears of an impending recession, and continued low inflation, we have a formula for rates staying steady.

-ARM’s will garner more market share – With fixed rates up around a percentage point higher, home ...

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Looking to Renovate?

Looking to Renovate?

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 ...

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When Should You Start Looking for a Home?

When Should You Start Looking for a Home?

If you are thinking about purchasing a home in the next year, the sooner you start looking, the better. Why start so soon? There are a lot of moving parts to buying a home. Getting a plan in place is the key to success.

Let’s look at all the moving parts:

– Make the decision to purchase and set an ideal time to close on a home. For example, when does your lease expire?

– Look into a mortgage pre-approval. ...

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Interest Rate Update

Interest Rate Update

Oddly enough, long-term interest rates started the year just slightly higher than they were one year ago. We had a few periods during the course of last year where rates were slightly above 5% for a 30 year fixed. With the recent volatility in the stock market and analysts starting to predict a recession in the next couple of years, interest rates have come down significantly since October, when they last peaked.
We now stand in the mid ...

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7 Strategic Moves as You Prepare to Apply for a Mortgage

7 Strategic Moves as You Prepare to Apply for a Mortgage
  1. Rent Before You Buy – It is always a good idea to get a year or so under your belt as a tenant so you can understand some of the challenges that come with homeownership. Put yourself in the shoes of your landlord. Lenders like to see a track record of making housing payments prior to application and to get you used to making a house payment prior to owning.

  2. Check Your Credit Report & Scores – ...

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