While 20% down (or more) is certainly an option if you have the cash, conventional loans are available for as little as 3% down, FHA loans for 3.5% down while VA and USDA loans do not require a down payment.
The home buying process can take anywhere from a few weeks to several months, depending on the specific circumstances of the transaction.
Generally 2-3% of the purchase price of the home, a typical buyer’s closing costs when obtaining a mortgage include: home inspection fees, loan origination fee, appraisal fee, credit report fee, title search and title insurance, survey fee, recording fee, homeowners insurance, property taxes, pest inspection and homeowners association (HOA) fees. Note that these costs may vary based on the lender, location, and details of the transaction.
Yes, there are several first-time home buyer programs available in Atlanta, including the Georgia Dream Homeownership Program and the Federal Home Loan Bank of Atlanta’s Homeownership Program.
We are here to help you find the perfect home for your needs and budget. We’ll work together to identify your must-haves and preferences, and I’ll show you homes that match those criteria, all within budget.
We will guide you through the process of making an offer on a home. We’ll discuss your budget, the home’s condition, the market and any other factors that may affect the purchase price and come up with the right offer strategy.
We will help you evaluate the condition of a home before you buy it, by doing a walkthrough with you and pointing out any issues that may need attention. In addition, once under contract, you will have a due diligence period where you can hire your own home inspector and cancel on the house without penalty if anything major is found that the Seller won’t address.
Atlanta is a huge market for builders and there are always new neighborhoods opening up all around the metro area. We have relationships with most of the builders which helps with getting information about upcoming neighborhoods.
A fixed-rate mortgage has an interest rate that stays the same for the life of the loan, while an adjustable-rate mortgage has an interest rate that can change over time. When interest rates rise, variable rate mortgages become popular again and people use them until rates drop and then refinance. There are a lot of caveats and potential pitfalls with this strategy. We can help explain the risks.
The home inspection process is an important step in the home buying process. An inspector will thoroughly evaluate the home to identify any potential issues that may need to be addressed.
Georgia is a real estate attorney state. While other states close real estate transactions with title companies, transactions in the state of Georgia must be closed with a real estate attorney. We have relationships with most of the real estate attorneys and can recommend good attorneys all over town.
Some common contingencies that are included in a home purchase contract include due diligence (ie your home inspection window), appraisal and financing contingencies.
Property taxes in Atlanta typically range from 1-2% of the home’s value.