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Financing in 30022 : Real Estate Advice

  • All77
  • Local Info6
  • Home Buying43
  • Home Selling5
  • Market Conditions0

Activity 5
Marc D'Angelo…, Other/Just Looking in Roswell, GA
Wed Jan 23, 2013
Marc D'Angelo - Lender answered:
I would love to help you with this and I can also provide references for you. I work for a local bank here in Atlanta and my turntimes on a refinace are under 30 days. I am available 7 days a week up until 8:00 pm.

Marc D’Angelo
Mortgage Banker
678.442.3405 Office
678.985.6834 Fax
404.925.8291 Cell
mdangelo@brandmortgage.com
apply online: mdangelo.brandmortgage.com



50 Chastain Center Blvd. | Kennesaw, GA 30144
NMLS# 75615 | 658834
... more
0 votes 10 answers Share Flag
John Reinhar…, Real Estate Pro in Atlanta, GA
Tue Jun 5, 2012
John Reinhardt answered:
If you owe more then the house is worth your current lender most likely will cut you a better deal if your not to much under water.

John Reinhardt
0 votes 8 answers Share Flag
Robert Robbi…, Other/Just Looking in Atlanta, GA
Thu Feb 9, 2012
Robert Robbins answered:
Rels,
There is another reason I would stay away from any ARM's previously you may have only had a 2% adjustment per either a year (based on Prime) or every 6 months(based on LIBOR) now almost every loan is written with a minimum of a 5% increase. So if you don't or can't refi in the next 5 years you could go from a 3.0% to an 8% rate and then some (in 2007 Libor was at 5.5 roughly and the 5% increase would be added to that rate. I don't think you would want to face a 10.5% interest rate (interest only or not) when you can have a 30 year fixed rate.

Also, little known to most, 30 year rates Cost either the same or less to get than a ARM does. (investors are not willing to take risky options with their money they way we were 4-5 years ago.) So with less investors interested, the Arm rates are not as noticeably lower than the Fixed rates.

Of course none of this addresses the 20% second. second mortgages also come with 2nd mortgage closing costs (although much lower). I have not seen any company go higher than 15% after a 75-80% 1st(so depending on all your other qualifications your still maxed at 90-95%. 2nd rates are no where in the ball park of 1st mortgage rates either. You'll AT BEST make the same payments with a 1st and 2nd as you would on a single fixed rate but you take all the risks and additional costs on.

If you have any other questions we can help you with, please feel free to call.

Best Wishes,

Rob

Rob Robbins
Senior Mortgage Consultant
Cornerstone Mortgage Group
6151 Powers Ferry Road NW
Suite 610 Atlanta GA 30339
Office 678-578-7613
rrobbins@cmghl.com
Cell 404-932-5353
... more
0 votes 6 answers Share Flag
Robert A Whi…, Real Estate Pro in Roswell, GA
Wed Jul 21, 2010
Robert A Whitfield Broker answered:
HI Grant,

I have a few suggest lenders, and by the way, you want to use only a Direct Lender in this market, not a Mortgage Broker.

I will suggest Jason Young 678-608-2944 or Robin Ehorn 678-608-2947 with American Bank Mortgage Group in Dunwoody, or Tenley Stephens 770-551-4159 with Suntrust Bank near Perimeter Mall - these are all experienced pros and can suggest the best loan vehicles. It sounds like a conforming first ($417)K and a HELOC second could save you some DP if that option is attractive. For a HELOC I have a local bank that I beleive can do a 95% CLTV with your fico score.

As far as the Broker Representation, homefinding, and transaction oversight and negotiation side of things, I would be happy to assist and represent you, and provide some unmatched services and protections.

The Wise Buyer Program provides over $5000 worth of free home structural and major systems analysis in addition to top buyer representation. There is nothing else like it in Atlanta - with this system you are more informed because you know what you are buying Before you ever submit your offer! That approach has many significant benefits - for more information, see the site below, or contact me at your convenience.

Regards,

Robert Whitfield
Broker/Owner - Realtor
Professional Buyers Broker
Relocation Expert
ICC Code Certified Building Inspection Expert
Advantage Realtors
678-585-9691
877-787-7167
... more
0 votes 11 answers Share Flag
James Dudley, Real Estate Pro in Suwanee, GA
Sun Jul 18, 2010
James Dudley answered:
Naca is a non profit organization that assists with loan modifications.

If you are having trouble making your mortgage payment speak to your current lender first and then you can also contact NACA for assistance. ... more
0 votes 3 answers Share Flag
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