Home Buyers

Big Hit to Second Home & Investment Mortgages

Fannie Mae announced on March 10 that they are limiting new loan secured by second homes or investment properties to 7% of the overall loans they purchase. What does this mean to borrowers seeking investment/2nd home mortgages? Turns out, it means A LOT. While Fannie Mae did not add any new “loan level pricing adjustments” …

Big Hit to Second Home & Investment Mortgages Read More »

Do I Really Need a 20% Down Payment to Buy a Home?

Do I Really Need a 20% Down Payment to Buy a Home?

Is the idea of saving for a down payment holding you back from buying a home right now? You may be eager to take advantage of today’s low mortgage rates, but the thought of needing a large down payment might make you want to pump the brakes. Today, there’s still a common myth that you have to …

Do I Really Need a 20% Down Payment to Buy a Home? Read More »

True Cost of Buying a Home

The True Cost of Buying a Home

As you begin to consider purchasing a new home one of the first things you should do is get an idea of what “the numbers” will look like.  Ultimately the 2 most important numbers will be (1) the monthly payment and (2) how much money you will need at closing, but there are a lot …

The True Cost of Buying a Home Read More »

The Cost of Waiting to Buy a Home

Spring is upon us so you might be thinking about selling your house again. In Atlanta, we finally had the first year-over-year increase in five long years. How much values increased (if they did at all) in your neighborhood depends on your specific area of Atlanta, but most of us experienced a pop in value. …

The Cost of Waiting to Buy a Home Read More »

Does a Bi-Weekly Payment Plan pay off your Home Mortgage faster?

Getting rid of a mortgage payment sounds appealing to any homeowner, so those Bi-Weekly Payment Plans offered to you by your mortgage lender might seem like a great idea. Before signing any paperwork, however, keep in mind that a bank-managed payment plan may not be your best option for owning your home faster. How can …

Does a Bi-Weekly Payment Plan pay off your Home Mortgage faster? Read More »

8 Ways to Derail Your Mortgage Loan Approval

When purchasing or refinancing a home, getting from loan application  to the actual closing can take time, typically 3 weeks in an average home market.  However, some loan approvals for unique situations have been known to take much longer.  Many different factors could determine how long it will take to get to the closing table; and …

8 Ways to Derail Your Mortgage Loan Approval Read More »