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    One of the jobs of a "buyers agent" is assisting home buyers with locating the best home loan for their credit criteria.  Most real estate agents work with mortgage brokers who have several different mortgage programs.  Some of these programs are the mortgage bankers own in house programs that are only available with that particular broker.  Therefore,  working with a buyers agent  who have access and knowledge of different lenders and their programs will eliminate a great deal of stress and could possibly get a buyer to home ownership quicker and with less stress.

At ATL Real Estate Group, we are real estate brokers with a portfolio of mortgage lenders who have very aggressive mortgage programs because we know life happens and every credit report have it's own story. 

A Dekalb County Home Available For No Money Down

How To Buy A Home

March is here and it's the beginning of the "home buyer's" season.  Smart sellers (usually investors) are positioning their "homes for sale" to net the highest return because the real estate market is a seller's market during this time of year.  When a seller position their listings for the highest return on their investments,  you will begin to see beautiful landscaping and fresh exterior painting.  The intent is to get the exterior to make you stop, view and hopefully make an offer. 

First step to buying a home is to check your credit.  Buying a home begins with the credit, unless you are paying cash.   It's not a pleasant feeling to be financially cable to put down 3 to 5 percent only to find out you will need a minimum of 10 percent down due to collections or liens reporting on your credit report.  You've checked your credit and your scores are good now you apply for a mortgage with a lender then get a pre- approval letter.  If you do not have a lender to contact,  but you know your credit scores are good and you are financially ready for a mortgage commitment;  it's okay to contact a real estate agent, who will refer you to a mortgage lender. 

Know your credit score before you begin shopping for a home, as your score will determine 1). if you will qualify for a mortgage loan, 2). what type of mortgage program you will qualify for and  3).at what interest rate.  That three digit credit score will determine your monthly mortgage payments. 

For a conventional loan and a government loan such as FHA or VA, your monthly mortgage payments will include PITI ( principle, interest, taxes, and insurance ).   Your credit score will determine "I" or the interest you will repay on a mortgage loan.

After you have your pre approval letter, don't begin searching for a home unless you have a "buyers agent" working just for you,  that includes searching for a new home in new subdivisions.    After you've selected your new home and your offer has been accepted, you're now under contract. 

I'm Under Contract, Now What?


So you went searching for a new home with your agent, you found that dream home, you made an offer and your offer was accepted, Congratulations...you're under contract, now what?   Now it's time to perform to the terms of your contract.   This is when a good 'buyers agent" comes in handy.  The job of your agent is to ensure that you're performing (as the buyer)  so you don't loose your earnest money.  That's correct,  a Purchase and Sales Agreement is a legal instrument in which all parties have a job to do.  The seller have a job, the buyer have a job and all prospective agents have their jobs as well as the lender.  Your agent (the buyer's agent)  will be in correspondence with the seller's agent and your mortgage lender to ensure everyone is on the same page and to address your concerns or issues.




THE MORTGAGE PROCESS FOR BUYING A HOME

The mortgage process could be stressful if you're not organized.  The loan officer, mortgage banker or credit union will request certain documents once you begin your mortgage loan.  The documents you will  need are 1).bank statements, 2). paystubs 3). W2's  for the past two years or 1099's (if self employed). If you are a contracted employee such as a teacher or a physician; etc.,  you will need to provide the contract between you and your employer.  Some lender will request tax returns for the past two years, if you have not filed your returns;  most likely you will have to file before beginning the loan application.

GO TO CLOSING AND GET THE KEYS

During your "under contract" period and everyone's job is completed; all parties to the contract are waiting for three very important words... "clear to close".   That means you have completed the lender's underwriting process successfully and you have a date to go to closing.  The lender and closing attorney's will inform you of everything you will need to bring to closing. They will usually email you instructions or relay them thru your buyer's agent.  The most important thing to take is a legal form of ID such as your drivers license.  If you have not already wired the closing attorney's the amount of money you need to close,  have your "buyer's agent" to ensure it's ok for you to take certified funds to closing (usually made payable to the closing attorney). 

So, buying a home is not hard nor complicated when you follow these important steps

1. Check Your Credit

2. Gather your documents

3. Apply for a mortgage loan and get a pre approval letter

4. Work with a buyer's agent who will be there from "contract to closing"

5. Go to the closing table.

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How Are Home Prices Up in Atlanta, But Sales Are Down?

Buying A Home During The Holidays

CLICK HERE to Search Atlanta Ga. for Homes For Sale

2017 is only weeks away and you still haven't made home ownership a reality.  If you found it challenging getting an offer accepted during the summer months, then buying a home during the holidays is definitely less challenging.

 June thru August is considered a "seller's market, so purchasing a home during the summer months is very competitive.  The Federal Reserves  compiled data showing that the most popular time to buy a home is during the summer months as it's when kids are out of school, the weather is perfect and curb appeal is bliss.

December thru February  could possibly be the best months to find  the best "bargain" in the housing market.    A seller seeking to sell a home during the winter where daylight is shorter,  is a "motivated seller".    A motivated seller is more likely to contribute more towards a buyer's closing cost,  more likely to pay a "decorating allowance and or is more likely to accept a discounted offer.

 A motivated seller is more likely  to discount the list price to a "short sale" negotiation during the winter months as the average home buyer usually buys a home during peak "home buying" season.  Beware that buying a short sell usually means buying the property in it's "as is" condition.

What ever the seller's reason's for selling, don't be the average home buyer and wait until after income tax returns .  If possible; make you offer now, during the winter months or over the holidays - it could be to your advantage.

New Home vs A Resale

ATL is presenting this builder close out special as a "Buyers Agent"  contact me for more details

BUYING NEW CONSTRUCTION vs. BUYING A RESALE

Pretty much the only difference in buying a new home as opposed to buying a resale home is, with a new home of course, you will be the original owner not concerned about the previous owners care or lack there of.    With a new home, the seller is the builder who does not have emotional ties with the selling or negotiating the sales price, like with a previous owner who may need to net a certain amount.  Most times in order to move the last few homes in a community, the builder will offer "buyer's incentives" in lieu of reducing the sales price.  These incentives are often in the form of upgrades in appliance packages, floors or cabinets.  Generally the builder of a new home will pay closing cost only if you use their approved lender.

With either a new home or a resale home, the real estate agent on the for sale sign  is working for the seller or the builder. To ensure you get the best possible negotiation either on price, closing cost or incentives, always work with your own agent.  Your buyers agent will keep explain the entire process from contract to closing on buying a new home. 

The fee of the buyers agent is almost always paid by the seller, so why wouldn't you take care of yourself by working with your own agent ...after all the seller has their own agent!

It's Home Buying Season

Spring has sprung, school will be out soon and new homes in metro ATLANTA are on sale!  But before you begin your new home search or before

                                                           

Can't See This Message? View in a browser If you feel you received it by mistake or wish to unsubscribe, click here Spring has sprung, school will be out soon and new homes in metro ATLANTA are on sale!  But before you begin your new home search or before your buy a home, make sure you're working with your own agent... a "buyers agent".  You've received this email because you are a subscriber of this site If you feel you received it by mistake or wish to unsubscribe, click here

Atlanta New Homes For Sale- Builders Incentives

New Home Builders Incentives Close Out Specials

The end of the year is not only the best time to purchase a vehicle, but it is also a great time to buy a “standing inventory “ new home.   For a new home buyer- the end of the year is what we real estate agents consider to be a  “buyer’s market” for a “new home” buyer.  Not because there are more homes on the market than buyers; but some builders are more motivated to sell standing inventory.  

  There are plenty of new home deals to be found in many new home communities.  More than 3800 new homes are for sale throughout metro Atlanta on the Georgia MLS database and even more listed on the First Multiple Listing service.

In lieu of builders drastically slashing the sales price of new homes, some will instead entice the buyer by paying as much closing cost that the home-buyers mortgage loan program will allow.  A FHA mortgage loan will allow the builder to pay up to 6% of the buyer’s closing cost. Other builder incentives comes in the form of cash rebates or free premium upgrades- from carpet to hardwoods or granite counter tops -if the home is still under construction.  

If you’re in the market to become a homeowner, you just might find a better deal in buying a new home.