Remax Realtors Atlanta Ga:  Helping Clients Find Out What They Can Afford

When talking to a group of Remax Realtors Atlanta GA lately, that’s the big question a lot of people are asking these days. Most first time buyers aren’t interested in stretching to buy more home. They want to make sure they are comfortable with the payments and the condition of the house. They also want to make sure they are comfortable with the current pricing, so the home doesn’t drop another 5-10 percent AFTER they buy.

However, there are a lot of current homeowners trying to sell their homes and they do want to buy another home. Here is where things can get tricky in today’s market. Unless homeowners have been in their homes for more than 10 years, put greater than 20% down when they purchased or paid cash, they don’t have a lot of equity. Consequently, when they go to sell, they get no money out of the sale of the home (if they are lucky) or they have to bring some money to the closing table to get out of the house.

I am working with several homeowners in that position right now. Due to the affordability of homes (the most affordable they’ve been in decades), my clients are wanting to buy a home in a better school district or a better part of town. They don’t have the 20% down payment saved, but they can afford to put 5% down. I am working with a lender that will do 5% down with NO PMI if the buyer has a credit score of 720 or better. Yes, finally the lenders are waking up and treating people with good credit and money to put down a little better.

FHA is no longer the way to go for homebuyers with little or no down payment because the government backed loan is so expensive (upfront PMI and a 2.25% fee). If you have good credit and at least 5% to put down, you can buy a home! There are a lot of lenders out there, so it’s vitally important that you do your research as a buyer. Know your options. If you have served in the military or have family that’s served in the military, there are credit unions that will give you great deals on mortgages.

I would be happy to put you in touch with my loan officer. I trust him and have worked with him for over a decade.  He’s the #1 choice of many Remax Realtors Atlanta GA. If you are interested in buying a home, this is the best time in history to be looking.

Contact Information

Tracy Anderson and Associates, Remax
1189 S. Ponce de Leon Ave.
Ste. 101
Atlanta, GA 30306
(770) 826-5907

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