Atlanta Home Mortgages

When purchasing a new home in Atlanta, a buyer should consider the mortgage interest rate and his own financial capability. Then he should think about the lending period of the home mortgage. Generally in the case of a fixed rate mortgage, where the rate of interest stays the same, the time span ranges between 15 years to 30 years.

If the borrower goes for long-term loan, obviously his interest payment will be higher. However, he can avoid that without reducing the initial size of the mortgage through higher monthly payments of the principle amount. But higher monthly installments reduce the flexibility of the borrower. To avoid this he may opt to pay one extra monthly payment every year.

The borrower may also choose an adjustable rate home mortgage in which interest rates fluctuate with market interest rates. The interest rates of such mortgages will be lower when compared to those of fixed rate mortgages. In such a mortgage, the borrower pays lower interests for the first four or five years followed by interest rates in accordance with market indexes. Therefore personal priorities and resources are carefully considered before applying for any home mortgage.

The borrower may research home mortgage options with a real estate broker. Or he can do his research online. There is a controversy reporting that whites in Atlanta receive five times as many home loans from Atlanta banks as blacks of the same income. In order to overcome this, the $20 million Atlanta Mortgage Consortium (AMC), a lending pool, has been hiring a number of black-owned public relations firms.

Atlanta Real Estate FAQs

The answers to frequently asked questions (FAQ) about Atlanta real estate can help you to make a better real estate deal. You can also approach a real estate organization or agent in Atlanta to clarify your points.

How much money is required to buy an average home in Atlanta?

This depends upon a number of factors such as the size and location of the home, the comforts you are looking for, and the procedural fees.

Why do Atlanta home prices go up?

High employment rates and the growing population have raised Atlanta real estate prices. Atlanta’s rapid all-round growth contributes significantly to the price hike as well.

What are closing costs?

Various expenses associated with selling and buying of a home, paid at the closing of the mortgage process, are collectively referred to as closing costs. For sellers, closing costs can be approximately 9.5% of the total price of the property.

What are the requirements for Real Estate Settlement Procedures Act (RESPA)?

This is a consumer-protection statute and requires that certain information about property loans be revealed, such as estimated closing costs and Annual Percentage Rate (APR).

What is the current trend in the Atlanta condominium market?

There has been an explosion in Atlanta’s condo and loft market over the past few years. Ranging from renovated warehouses and factories to high-rise condos with many amenities, Atlanta has a buzzing condo and loft market.

What is special about Atlanta’s neighborhoods?

Atlanta’s neighborhoods have some historic importance. You find Jewish communities and a historical African-American population in the neighborhoods. Most neighborhoods have civic associations that work for the welfare of the local community.

Living the California Dream – Orange County Home Equity Loans

Who knows how Orange County got its name? People have made up so many stories about O.C that over the years, separating fact from fiction has become as time-consuming as peeling an orange. One thing is certain about the place, though. It is easily one of the most beautiful and picturesque in the United States. Because of its desirable location, Orange County home equity loans understandably come with steep price tags.

Orange County Home Equity Loans: Expensive or Economical?

If your goal is to find a budget-friendly home, do not shop for Orange County home equity loans. Orange County is the country’s second most-expensive housing market. It is second only to San Francisco. In fact, as far as houses are concerned, the average Orange County home will cost you three times more than the average American house. According to the National Association of Realtors, Orange County home loans start at $710,000. The national median, on the other hand, is only $215,900.

Orange County Home Equity Loans: Selling Like Oranges

Despite its steep price, a house in Orange County remains a highly coveted property. Why shouldn’t it? An Orange Country address is synonymous to money and a life of privilege. Forget the place’s sandy coves, chiseled bluffs, and foam-covered oceans. There are other places in the United States that are just as beautiful but are much cheaper.

People take out Orange County home equity loans for two reasons: the natural beauty of the place and the O.C lifestyle. To many, an O.C home means you have well and truly made it big.

Orange County Home Equity Loans: In Perspective

Just how high could Orange County home loans go? Visualize this. In Coldwell Banker’s annual Home Price Comparison Index, a 2,200-square-foot Newport Beach house, with four bedrooms, 2.5 baths, a family room, and a two-car garage can set homeowners back by a whooping million and a half!

If you cannot imagine how well and truly expensive this is, take a look at these figures plucked from the same Home Price Comparison Index.

Washington, D.C – $727,250.00

Wilmington, Delaware – $377,250.00

Pensacola, Florida – $222,258.00

Atlanta, Georgia – $303,000.00

Honolulu, Hawaii – $745,454.00

Des Moines, Iowa – $247,000.00

Boise, Idaho – $213,808.00

Chicago, Illinois – $815,000.00

Munster, Indiana – $329,300.00

Boston, Massachusetts – $1,260,000.00

Chevy Chase, Maryland – $829,750.00

Wilmington, North Carolina – $286,650.00

Rye, New York – $869,125.00

Dayton, Ohio – $173,475.00

Clearly, Orange County home equity loans are not something you take out lightly. They are payments you would be making for a long, long time. Thus, it pays to do your research thoroughly and accurately. Find the properties that give you the best value for your money. After all, Orange County living is the golden California dream.