5 Things To Consider Before Buying A Home

1) Know your credit.

Before you start your home search, it is a good idea to order your credit report and review it for accuracies. If you decide to pay off some items on your credit, it’s smart to pay off the smallest balances first.

2) Know how much home you can afford.

Especially on your first home, don’t try to overdue it and buy the biggest or fanciest home. Make sure that your monthly mortgage payment is affordable given your monthly income.

3) Do your research.

Research various loan programs, your local real estate market, home basics, and mortgage lenders. Make sure you understand these concepts.

4) Get pre-approved.

Once you’re ready to buy and are knowledgeable enough to make a good buying decision, shop around for the best loan that fits your particular needs. Don’t just consider the quoted interest rate; also consider closing costs and the terms.

5) Be smart in your house hunt.

Don’t get carried away by the asthetics of the home, especially if you’re a first-time homebuyer. However, look at other factors that may affect your property’s value and future selling attractiveness. Also pay attention to a good, growing neighborhood, school districts, local tax rates, and flood zones.

Benefits of Home Ownership

Of course, it’s clear that the benefits of buying a home far outweighs renting. If you still aren’t convinced that buying a home is one of the best decisions you can make towards your financial future, here are some reasons to home ownership.

1) Pride. It feels good to know that you own your home.

2) Renting wastes your money; owning makes money and helps to minimize your taxes. Consider this, when you rent, you help pay someone else’s mortgage.

3) You can realize tax benefits when you own a home and can claim the mortgage and interest payments on your taxes.

4) The appreciation and equity in your home can be a profit for you when it’s time to sell.

5) Owning a home makes you attractive for equity loans that is borrowed against the equity in your home and can be used for a variety of reasons.

6) Homeownership helps to foster better neighborhoods because homeowners are more likely to be concerned for their neighborhood’s vitality since it directly affects their property’s value.

7) Homeownership helps to build your financial credibility.

What You Should Know Before Signing An Atlanta Home Refinance Loan

If you are in the market for an Atlanta home refinance loan, be aware that there are certain things that you should become familiar with before you apply for a loan. Do you know what to look for in a lender? Do you know what type of refinance loan that you want to receive? These are just a few questions that you should have answered before you begin to search for a loan. Keep reading to uncover the answers to these questions and more.

When you are searching for the right lender for your Atlanta refinance loan, do some pre-qualifying with several different loan companies. Just make sure that these companies do not pull your credit report to pre-qualify you. Having too many inquires on your credit report will lower your credit score. What you are looking for is a loan company that is receptive to your needs, quick to answer questions and one that has the ability to lock in a low interest rate.

You also should check out any loan company thoroughly by running them through the Better Business Bureau website to see if they have many complaints filed against them. Be leery of those loan companies that contact you out of the blue. There are quite a few predatory lenders out there.

Another thing to take into consideration is the type of loan refinance that you want. It is probably in your best interest to find a fixed rate mortgage refinance. This way your payments won’t go up if the interest rates rise. If you can afford it, you may want to consider a 15 year refinance loan instead of a traditional 30 year loan. This will save you a ton of money over the years and allow you to build equity in your home faster.

Always remember that you should get everything in writing and know what you are signing before you sign it. If you don’t understand the contract, get your attorney to look it over. Make sure that you are aware of any closing costs and fees before you sign. You do not want any last minute surprises on the day of closing.

Getting an Atlanta home refinance loan can be a great way to free up extra money each month. You can use the extra money for bills, savings or home improvements, and it’s a great way to help you become financially stable.

What Are the Unique Advantages of Buying Georgia Foreclosures Homes?

If you are on the lookout for an affordably priced property in a prime residential area, you can now purchase a suitable property through Georgia foreclosures for sale and avail several unique advantages. Some of the benefits of buying a foreclosed property in the area include various home buyers’ assistance programs, great job opportunities in the metro area, easy transportation, family centered residential communities, a safe and friendly environment as well as a highly affordable cost of living apart from a 10% to 50% discount offered through foreclosures.

One of the prime advantages of investing in a property under Georgia foreclosures is the availability of a large number of assistance programs for home buyers interested in purchasing a foreclosed home in this area. Along with the State Housing Department offering home buyers various tax credit incentives, there are a large number of banks in the area which have attractive and highly reduced interest rates on home loans for buyers interested in Georgia foreclosures.

With major corporate companies like Home Depot, UPS and Delta Airlines headquartered in the metro area the region offers some of the best job opportunities and therefore makes for an ideal relocation choice for those looking for better professional growth. The transportation facilities in the area are also top notch with the Amtrak connecting the region with New York, Washington DC, New Orleans and Florida.

Another unique advantage of buying a property through Georgia foreclosures is that the area is home to some of the best residential communities in the country. Neighborhoods such as the Atlanta metro area as well as the suburban areas of Gwinnett and Cobb provide an ideal environment for residents to raise well rounded families. The area has a very active recreational scene with football and baseball as a favored weekend sport. The state has a team in some of the major professional leagues including the NFL and NBA.

Considering the prime residential areas, high standard of education and healthcare accessible to the residents, the region has a surprisingly affordable cost of living which makes investing in a property through Georgia foreclosures a highly favorable option for home buyers on the whole.