Posts with tag 'Mortgage'

Buying a home is a big step, and there are many factors to consider. One important thing to determine is whether you want to live ina home in a neighborhood with a homeowners association (HOA). HOAs can offer many benefits, but they also come with some responsibilities. In this blog post, our real estate agents share the benefits of buying a home in a neighborhood with an HOA, as well as the responsibilities that come with it.

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After all of your hard work and careful saving, you're probably starting to look longingly at some of the beautiful Atlanta homes for sale. At this point in the process, a simple error in judgment could derail your plans. Our real estate agents want to help you avoid any such issues. 

• Don't make a major purchase.
  Lenders will check your credit before approving your loan. Buying a new car, furniture, or appliance will impact the loan in more ways than one. Not only will such a purchase lower your FICO score, but it will also increase your debt-to-income ratio or DTI. If your DTI increases to around 43%, you will be considered a risky borrower. If your loan is approved at all, it may be at a higher interest rate. Avoid making such purchases for at least six months to a year before buying a home.

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In looking for Atlanta homes for sale, some people forego the buying process and build their new house themselves from the ground up. The idea certainly has its appeal. No long searches, no bidding wars, and you can get a brand new home tailored to your exact specifications. However, while good in theory, building a house may not be the best option in practice. Here are a few reasons why buying is better.

• Cost. On average, building a new home costs $34,000 more than buying one. The cost is much less straightforward, too, and always ends up being significantly more than you'd originally anticipated. You never know when, several months into the process, an unexpected obstacle arises, requiring extra money to circumvent. On the other hand, the cost of buying a house can be negotiated. You can always walk away if it's more than you're comfortable paying. In building, walking away often means giving up the money you've already invested in the project as a loss.

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Yoga has so many benefits. Physically, it helps improve flexibility and strength. Mentally, it can help you stay focused and relaxed. Whether you've done yoga for years or are just discovering it, you'll want to fit in a class on June 21. This is International Yoga Day, a celebration of this incredible wellness modality. Take a break from looking at Atlanta homes for sale, and stop by one of these local studios.

• Be Hot Yoga Atlanta: 730 Ponce de Leon Place NE, Atlanta, GA 30306
  Be Hot Yoga Atlanta specializes in Bikram yoga, a style of yoga that is performed in a hot room. Bikram yoga is incredible for clearing out your system and helping you start fresh. New students can join for only $69 for 30 days.

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You may have heard that there is a shortage of real estate available in America, but our real estate agents want to assure you that there are plenty of magnificent Atlanta homes for sale, no matter your price range. But did you know that your credit score can change the affordability of your dream house? Credit scores not only make a difference in the mortgage rate but also in the type of loan for which you can qualify, including the amount of down payment required. Conventional mortgages usually require a minimum score of 620, FHA requires 580, VA and USDA require 640, and jumbo loans 700-740. Unfortunately, how these credit scores are calculated is a mystery to most consumers. Here are few ways to boost your score.

• Don't apply for new credit
  Retailers are always pitching their store cards with promises of money-saving prices and cashback on purchases. Lenders look at your FICO score to determine creditworthiness. Opening new accounts over a short period of time can signal a greater credit risk to lenders. New credit accounts for about 10% of your score.

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