Home Buying in Atlanta>Question Details

cy051951, Home Buyer in Atlanta, GA

In about two years.or a little less we are thinking of moving to Atlanta for retirement. When is a good time to contact an agent. With both of us

Asked by cy051951, Atlanta, GA Sun Nov 3, 2013

being retired when we move there, how will we qualify for a mortgage. We are currently renting and lost our home 6 years ago to foreclosure after 17 years, will we be able to purchase.

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Answers

8
Approximately 4-6 months prior to your move.
I have offices in Atlanta; please let me know if you're looking for a great agent.
.
Phil Rotondo
Coldwell Banker ResidentIal Real Estate
mailto:phil@321property.com
1 vote Thank Flag Link Sun Nov 3, 2013
Getting Pre-Qualified prior to beginning the home search is critical. To do this, you would need to submit a Pre-Qualification request along with your financial documentation.

A loan officer who does not ask for and properly reviews all of the above documentation is doing no service to you and may not be very experienced. Experienced loan officers know that many issues come to light only once the actual documentation has been reviewed.

A Pre-Qualification is valid for 90-120 days from the date that the credit report has been pulled. At the time of closing, most documents (i.e. credit report, income/asset documentation, appraisal, etc.). Should anything be older than 90 days, an update will be required. For credit, this is simply the loan officer obtaining a new credit report.

As one of the largest direct lenders in the country, Prospect Mortgage offers one of the largest selections of loan programs available. In addition to the standard conventional, FHA, VA, USDA, and Jumbo, we also offer a wide range on Renovation loan programs. Our Renovation programs include FHA 203(k) (Streamline & Consultant), HomePath Renovation, and HomeStyle Renovation. In addition, we also have an FHA 580-639 FICO program for borrower with previous credit issues.

The waiting period after a foreclosure can range from 2-7 years depending on the loan program.

Working with a knowledgeable and seasoned loan officer is critical in today's market. Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified for your purchase, you can submit your request online at http://www.rodneymason.com to get started.

Regards,
Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
rodney.mason@prospectmtg.com
Apply Online at http://www.rodneymason.com
Licensed in Alabama & Georgia with over a decade of mortgage lending experience.

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203(k) Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
0 votes Thank Flag Link Sun Nov 3, 2013
IT is not too early. IT may take time to repair your credit. I can assist you with that. Also, Make a trip to get educated on areas where your taxes, food and life style will cost less. I have been in a similar situation. I am past retirement age myself. bscyphrs@aol.com
0 votes Thank Flag Link Sun Nov 3, 2013
Its always good to get your ducks in a row as soon as you can. Your best bet is to talk with a qualified loan officer to sort out the details of the foreclosure. I will be more than happy to assist you as i an a certifed relocation specialist with Cartus, USAA and Navy Federal credit Union. Please contact. Jeff Claeson at 4048432500
0 votes Thank Flag Link Sun Nov 3, 2013
I would talk to an agent about 6 months prior to your moving. Good luck!
0 votes Thank Flag Link Sun Nov 3, 2013
You more than likely have either savings or some source of income on which you are living. The mortgage company would use that information (and other) to establish your credit worthiness. There are some wonderful adult communities in the area that I would love to show you when you are ready.

Fred Yancy, Broker
Harry Norman Realtors
(678) 799-4663
http://www.fredyancy.harrynorman.com
0 votes Thank Flag Link Sun Nov 3, 2013
Good morning Cy,

First, I would get in touch with a lender soon just to see what your credit looks like now. If there are things that you need to do to improve it you can get a head start. I can put you in touch with a wonderful lender who will help you.

Second, I am an active adult community specialist and can help you with your purchase. I work with a lot of retired individuals and can help point you in the right direction.

I would be happy to answer any other questions you might have. Send me an email to pam@metropolitanhomesatlanta.com or give me a call at 404-932-5540!

Enjoy your Sunday!
0 votes Thank Flag Link Sun Nov 3, 2013
Hi Cy051951,

Based on your credit and retirement income you should be able to qualify. You may also have the option of a Reverse mortgage to purchase your new depending on your age and amount available for downpayment. Feel free to contact me if you would like to discuss this further. In my opinion there is nothing wrong with building a relationship with your agent now and then you will be more comfortable at you time you decided to make your move.

Ava Anderson
Solid Source Realty Inc
770 369-5121
0 votes Thank Flag Link Sun Nov 3, 2013
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