Posts with tag 'For buyers'

Your credit score is more than a number; it is a reflection of your financial health and your ability to service your financial obligations. When you purchase a home, it is a number that is as important as your down payment, income, and assets. Our real estate agents don't want your deal to fall through because of a low FICO Score. Understanding the following can help you prepare your credit for one of the most important investments of your life.

How Lenders Use Credit Scores

Lenders view your FICO Score as a measure of your creditworthiness. The higher your score, the lower the fees and interest rates you will pay. That's because the higher the score, the lower the risk you pose to the lender. Conversely, if you have a lower score, you pose a greater risk and will pay higher fees and interest.

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Our real estate agents know viewing Atlanta homes for sale is an exciting experience! When you visit a new home, you open up a world of possibilities for the future. As exciting as it all is, it's vital not to overlook any of the important steps in the homebuying process. If you approach buying in a methodical way, you'll be more prepared – and more likely to get the home you want.

The most crucial thing many buyers forget about is pre-approval. In fact, you should take care of it before you even look at homes for sale.

What is Pre-Approval and Why Does It Matter?

Pre-approval is an essential step in getting a mortgage loan.

During pre-approval, a lender examines your finances in detail and determines exactly how much money you can qualify for in your loan package. The loan isn't finalized until you select a home, but you receive a letter from your lender showing that they are willing to extend a financing package to you.

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If you've been thinking about making Atlanta your new home, now is a perfect time! Not only are there many great Atlanta homes for sale, but the cost of living here is also incredibly low. In fact, the city was recently named #12 in a recent article titled "America's 20 Cheapest Cities Where Everyone Wants to Live Right Now." 

What makes the Atlanta area so attractive? Let's take a look! 

• A Look at the Numbers
  As one of the largest metro areas in the country, there's a lot to love about Atlanta. The city offers beautiful, unique neighborhoods, excellent dining opportunities, and comfortable weather. It's also home to some of the country's top-rated colleges, including Emory University, Georgia Tech, Georga State University, and Kennesaw State University. If you love to travel, you'll appreciate being close to Atlanta-Hartsfield International, the world's busiest airport.
  
  It's also super-affordable to live here! The median household income is $71,724, which is $6,000 higher than the average in the United States. The cost of living is also 2.7% lower than the national average.

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Buying a new home is one of life's most exciting moments, but weeks leading-up to the closing can be stressful at times. On occasion, problems can pop-up at the last minute, so it's often recommended that buyers temper their expectations until the seller hands over the keys. Unfortunately, this can be a lengthy process as average home closings can last anywhere from 4 to 6 weeks.

When it comes to closings, our real estate agents have seen it all. If you're considering one of these Atlanta homes for sale, below are some common problems that can delay closing on a property.

• The Home Inspection
  The home inspection report is one of the most common causes of a delayed closing. Often, a home inspector will uncover an issue or defect that the seller either was not aware of or did not disclose. Upon receiving a home inspection report, you may want to negotiate further with the seller around potential repairs. Luckily, by adding a home inspection contingency to your offer, you'll have the right to back out without penalty if you discover something in the home inspection report that is a major cause for concern.

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Deciding whether to purchase a house or a condo can be a tough decision. There are unique benefits to both options - and the best choice ultimately depends on your preference, budget, and where you are in your life. To help you make an informed decision, our real estate agents outlined several advantages of owning a house and a condo.

Three Benefits of Purchasing a Condo

• They're Often Less Expensive
  When all else is equal (market, size, etc.), condos tend to be your cheaper option. If you have a smaller budget, condos will allow you to get by with a smaller down payment and a smaller mortgage payment. However, keep in mind that some condos often have Homeowners Association (HOA) fees ranging anywhere from $100 a month to well over $1,000 per month.

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