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Crystal Clark's Real Estate Blog

Keeping you updated on the Atlanta's real estate market.

By Crystal Clark | Agent in Atlanta, GA
  • USDA Loans Return in Metro Atlanta...

    Posted Under: General Area in Atlanta, Home Buying in Atlanta, Financing in Atlanta  |  November 4, 2010 11:37 AM  |  2,313 views  |  No comments
    Their back (an no, we're NOT talking about cuts of meat) and available in the Atlanta Metro Area.  Let me know if you'd like more information on this type of home loan and I can refer you to reputable lenders that have experience with USDA Loans!
    USDA Loans Return
  • FREE Money to Buy A House in Atlanta - Opportunity Downpayment Assistance Program

    Posted Under: Home Buying in Atlanta, Financing in Atlanta, In My Neighborhood in Atlanta  |  October 14, 2010 1:56 PM  |  664 views  |  No comments

    There are SOOOOO many homes available for sale (in Atlanta) that the simple principle of supply & demand is really having its way with the real estate market.  Because the supply is so plentiful, it's keeping pricing fairly low (even in some of our more prestigious neighborhoods).  That's GREAT news if your a First Time Homebuyer or an investor for that matter!

    However, many people are scared to buy a home or think that they cannot afford the house itself, the downpayment or even closing costs.  I'm here to tell you that there are several programs locally that will give you FREE money to buy a home.  The "Opportunity Downpayment Assistance Program" (ODAP) is one such program.

    What is ODAP?

    The “Opportunity Downpayment Assistance Program (ODAP)” provides homebuyers with downpayment assistance of 10% of the sales price at 0% interest rate as a "soft" second mortgage. The first mortgage* has to be secured by a participating lender and must be Convntional, FHA, or VA, 30-year fixed rate loan.

    The property you purchase:

    • MUST be located in the city limits of Atlanta
    • Maximum purchase price limit can not exceed $252,890
    • Single family detached homes, townhomes, and condominiums are okay
    • MUST be owner occupied

    There are income limits to participate in the program:

    • 1-2 person household: $71,700
    • 3+ household: $82,455

    Want additional information on how you can get started on the path to homeownership?  Contact Crystal Clark at: 404.992.1943 -OR- via email at: Crystal@ATLRealEstateGuru.com for additional information. 

    *1st Mortgage interest rate can not exceed the maximum monthly rate posted on ADA’s website.

  • What do interest rates look like today?

    Posted Under: Financing in Atlanta  |  July 20, 2010 7:55 PM  |  234 views  |  No comments
    Thinking of buying a house?  Whether it's your 1st home, a vacation get-away or an investment property, interest rates are still low making this the perfect time to buy real estate.  Check out these rates one of my loan partners recently sent me:

    - Conventional loans are back to 95% with options for no Private Mortgage Insurance (PMI)
    - Jumbo loans are loaning as high as 90% loan to value (except in Fulton County)
    - Jumbo loans have rates as low as 4.25% as of 7/20/2010

    In a nutshell, since August of 2007, lending guidelines have tightened drastically and are finally begin to loosen again.

    It is still acceptable for Sellers to contribute the following amounts towards closing costs:
    - FHA -- 6%
    - VA -- 4%
    - Conventional -- 3% (with less than 20% down payment)
    - Conventional -- 6% (with 20% or more down payment)
    - Inv Properties -- 2%

    If you would like more information on anything mentioned above, or if you need a referral to a reputable lender, Contact Crystal Clark directly at 770.521.7877 or via email at: Crystal@ATLRealEstateGuru.com.
  • Mortgage Interest Rates ~ What to pay close attention to...

    Posted Under: Financing in Atlanta  |  July 1, 2010 6:59 PM  |  309 views  |  No comments

    Whether your thinking of buying your first home, a vacation home, investment property or considering re-financing your existing home mortgage, it is important to know that interest rates are cyclical. If rates drop to reach historical "lows" (as they currently have), it is safe to assume that they will rise again and vice versa. Certain economic indicators such as unemployment data, consumer price index, retail sales data and consumer confidence all have an effect on mortgage interest rates, but the key factor to watch is the relationship between stocks and bonds.

    When the economy is slow and the stock market is "bearish," many investors move money out of stocks and into bonds and mortgage-backed securities, causing mortgage interest rates to go down. When the economy is doing well, the stock market rallies and is considered "bullish." Investors then have a tendency to move their money out of that safe haven of bonds and mortgage-backed securities and back into stocks. As a result, mortgage interest rates go up.

    As a Metro Atlanta real estate professional, I have developed relationships with experienced mortgage lenders who keep a close eye on mortgage interest rates at all times in an effort to alert our clientele of opportunities to obtain lower financing. If you would like a personal introduction to an experienced lender who can help you finance your real estate goals, contact Crystal Clark at 770.521.7877 or via email at Crystal@ATLRealEstateGuru.com.

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