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Home Buying in 30043 : Real Estate Advice

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  • Local Info5
  • Home Buying22
  • Home Selling7
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Activity 19
Fri Mar 3, 2017
answered:
Hello, I'm a mortgage professional.

With a 580 credit score you can qualify for an FHA loan. You would only need 3.5% down and your even allowed to roll closing costs into the loan using a sellers concession.

I can explain more.

If you have any other questions or would like help with this you are welcome to get in touch with me.
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Sun Sep 4, 2016
Dianne Hayes answered:
Sorry, you can't have it both ways. You are not reporting income to avoid taxes, the result is you can't document your income for any mortgage.
0 votes 5 answers Share Flag
Tue Aug 23, 2016
Solomon Greene answered:
The owner of a property listed as a potential short sale is in the process of petitioning the property's mortgage lien holder to accept as payoff an amount that is less than the actual mortgage balance owed. It is listed as potential usually because the mortgage lien holder has not yet agreed. It would read approved short sale if there had been an agreement to accept less than the balance owed.

These scenarios usually occur when an owner needs to sell, but the property is worth less than the current mortgage balance.

Solomon Greene
678-775-2677
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Mon May 9, 2016
Chelsea Garrett asked:
now that we have already signed the contract and we are about a week from closing, I am VERY concerned about damages or anything of the sort. Can I request they put money in escrow at this…
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Tue Mar 31, 2015
Nora Moore answered:
The cost for painting a house's interior varies quite a bit. How big your home is and what kind of paint you want will be big factors. Even with those factors set, different contractors have varying rates. If I were you, I'd get quotes from a few of the contractors in your area. http://www.apcne.com/commercial-painting-contractor ... more
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Tue May 14, 2013
answered:
Until the property has actually closed, that is confidential information. Once the property closes, that will become a matter of public record once the sales price and new owner's name is recorded.

If you are looking to purchase a property, 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 mortgage options. To get Pre-Qualified for your purchase, you can submit your request online at www.rodneymason.com.

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 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing.
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Sat Dec 29, 2012
Annette Lawrence answered:
Trying,
There is WAY TOO MUCH we do not know about this transaction or your situation.
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As you know, the devil is in the details of the contract you signed. For the owner, God is in the details of the contract you signed. (You may have contractually agreed to a purchase price) We, reading your question, do not know what you signed.
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I would suspect you feel into a trap. Not really a trap. The details ARE in the contract you read. Those trying to circumvent the PROTECTIONS in place for home buyers often find themselves in a situation similar to yours. Consider working with a pro in the lending and real estate professions to position yourself property before your next real estate purchase. These processes are in place for your PROTECTION.

Best of success to you,
Annette Lawrence, Broker/Associate
Remax Realtec Group
Palm Harbor, FL
727.420. 4041
http://RealEstateMadeEZ.us
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0 votes 4 answers Share Flag
Sat Dec 29, 2012
Bruce Ailion answered:
In your price range you will find a good selection of HUD homes at www.HUDHomeStore.com. Many will require rehab and you can get an FHA renovation loan the pays for the renovation with just $100 down payment. With closing costs and down payment you will be owning that home for less than $1000 out of pocket. You can have HomeDepot or Lowes contractors complete the renovation to your specifications with some limitations, like no pools and have the lender pay the bill and include it in your loan. You can shop on HUDHomeStore but you will need an approved HUD Broker to submit your offer and will need a prequal letter prior to submitting your offer. If you need assistance give me or any experienced approved HUD broker.

Bruce Ailion,
RE/MAX Greater Atlanta
An Atlanta Real Estate Expert Serving Clients Since 1979
RE/MAX Hall of Fame – REALTOR Phoenix Award
CRS, CRB, ABR, MSRE, CDPE, CIAS, e-PRO, ESQ
Certified Residential Specialist
Certified Real Estate Broker
Accredited Buyers Agent
MS Real Estate and Urban Affairs
Certified Distressed Property Expert
Certified Investor Agent Specialist
Certified Internet Professional
203K Certified Specialist
Attorney
2050 Roswell Road
Marietta GA 30062
404-978-2281 Direct
404-386-3682 Assistant Robin
678-760-6266 Buyer’s Agent Adam
770-973-9700 Office
bruce@locationlocationlocation.com
www.LocationLocationLocation.com
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1 vote 4 answers Share Flag
Wed Aug 15, 2012
My NC Homes Team answered:
You seem to have conflicting desires. You seem to want privacy but are also worried the house won't be easily seen from the street. Which is more important to you?

I will tell you there's a very good chance that if you leave the trees they may die anyway within a few years unless specific attention is paid by the builder to prevent any heavy equipment from going over the roots. In general you need to avoid driving anywhere around the tree you're trying to save a distance equal to the spread of it's branches otherwise you will inadvertently damage their roots and ultimately hasten their dying off. ... more
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Sat Jul 28, 2012
answered:
.For an FHA mortgage, most lenders require a 640+ credit score for the last 2-3 years now. Prospect Mortgage is one of the few direct lenders to offer an FHA 580-639 FICO loan program. Credit profile is a major factor in a mortgage approval. Generally, there should be no late payments, new collections accounts/charge-offs/liens/judgments in the last 12 months. HUD does require that all open collection accounts must be paid in full if their cumulative balances exceed $1,000.

Conventional loans with 5% down are typically going to require a 660-680+ FICO. The best interest rate/MI would be above 740-760+ FICO.

Getting Pre-Qualified is the only way for you to find out your options. To get Pre-Qualified you purchase, you can submit your request online at http://www.rodneymason.com.

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

Prospect Mortgage offers a full selection of mortgage programs including:
Conventional | FHA | FHA 580-639 FICO | FHA 203K Renovation (Streamline & Consultant) | HomePath® | HomePath® Renovation | HomeStyle® Renovation | VA | USDA | GA Dream | Jumbo Financing
... more
0 votes 2 answers Share Flag
Tue Jun 12, 2012
Priscilla Hammond answered:
Cheryl if you find a professional who knows how to write a lease purchase contract in favor of their client, you should be fine.
1. A financing contingency will assure you're not obligated to purchase if you can't get a loan at the end of the lease term.
2. An appraisal contingency to ensure you're not bound to pay more than the value of the home at the time of closing the sale.
3. The purchase price can be established in the beginning or Buyer & Seller can agree on the price being fair market value at the end of the lease term.
4. As Ashley stated all terms can be negotiated.
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0 votes 9 answers Share Flag
Tue Jun 12, 2012
Alan Grizzle answered:
There is no way to offer a guess on that. I don’t see why the bank would need the seller to sign anything unless something was done incorrectly in the foreclosure process. I bought one where the bank had to re-foreclose. Then after they re-foreclosed I had to wait another two months for them to get the foreclosure deed recorded. The former owner may not be real happy with the bank that foreclosed on them and may not be very cooperative so getting them to sign of my not be as easy as it sounds. Then again they may sign right away to get it over with. Bottom line there is no way to know how long it will take until it is finished. ... more
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Tue Jun 12, 2012
Alan Grizzle answered:
Is it a nice pond people can fish in or just a glorified mud hole? If it is just a mud hole it will be a breeding ground for mosquitos and people would not want to be close. If it is a pretty pond that offers a very pleasing view and possibly some recreation activities there will be people who would love that. I would be one of those, I often have people looking for something with a river, stream or pond on it and it is often hard to find for them. There will be some people that will stay away because they worry about their small children getting in it. Bottom line no one property is right for everybody, it is up to the buyer. ... more
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Mon Jun 11, 2012
Andrea Solomon answered:
Mac, I must informed you that buying a home at the the court house step is not a simple process. It has its rewards but it also has its woes also. I have done it for myself and it involves a lot of preparation. You MUST do a title search because not all leins ( mechanics and in some cases HOA, make sure you are bidding on the first and not the second mortgage, IRS leins require additonal paper work after the foreclosure etc) will fall off, there is no prior inspections and some homeowners/tenants are very savy and may use the system to stay in the property for much longer that you would want them to. When the attorney collects your money it is over. Good luck, I just want you to be very careful. I have had good luck and also bad luck. ... more
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Mon Apr 16, 2012
Robin Lanese answered:
Rivershyre has suffered it's up and downs like these agents have shared with you. The one reason this subdivision is showing in "well-kept" condition is the interactive homeowners association and their diligent efforts.
I commend you, in today's market this is just the type of thing to spot when search for the best homes, in the best location. Something else to keep in mind, you may not be aware of. These properties which are priced right in good condition are being bought up very rapidly. We are currently experiencing the amount of time on the market and the number of homes on the market is decreasing. As the inventory decreases the number of value priced homes also decrease and are then replaced with higher prices. Now is the time for the best home at the best price. The third leg on that chair is financing and the low interest rates. I just placed a family in a 4 bedroom home for less than what they had paid in rent. In other words...., THERE IS NO BETTER TIME!!
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Tue Apr 14, 2009
1stime answered:
Thanks for your input guys! I will let you all know what comes out of it.
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Mon Dec 15, 2008
Solomon Greene answered:
Seb,

The community is in the Mill Creek High School cluster, one of the best in Gwinnett for test scores. Adjacent to Mill Creek is Glen C. Jones and the elementary school is Fort Daniel. I have been very pleased with the quality of education at Fort Daniel where my relatives attend. Further, my neighborhood is served by Mill Creek High School (as of this writing - rezoning starts next year) where I also have taught as a substitute teacher and I have found the staff there pleasant and the students friendly and serious about their education as is evedent by the test scores.

My interpretation of safety may be different from yours, but I live within five miles of that neighborhood and my children are in a nearby daycare. It is very convenient to both Highway 316 and I-85 so access to Scientific Atlanta should not be a problem. We also shop at the supermarkets, shops and other businesses there. You'll find a number of worship facilities in the area and likely lots of professionals. Safety has never been a concern for my family.

Hope that helps.

Solomon Greene
REALTOR® & Consultant - Keller Williams Realty Atlanta Partners
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0 votes 2 answers Share Flag
Fri Nov 21, 2008
Solomon Greene answered:
Hi Seb,

Welcome to the area!

Another site that may be of interest to you is http://www.SchoolMatters.com.

The Scientic Atlanta Campus is currently in the Berkmar High School Cluster, but stronger school clusters are just a few minutes drive away. You should consider feeder schools for Peachtree Ridge or Collins Hill High Schools, both ranked among the top 25 high schools in the State of Georgia for ACT scores according to the Georgia Department of Education. For the Peachtree Ridge High School Cluster, I'd recommend considering homes served by Parsons Elementary while homes served by Walnut Grove Elementary will feed into Collins Hill High School. Please note that the clusters are changing and the construction of a number of new schools is being completed for opening in the 2009 school year because of the rapid growth in Gwinnett County, but this should provide some level of guidance for you to make decisions.

FYI, the top performing high school for ACT scores was Parkview High School, followed by Brookwood High School and Duluth High School also placed in the top 25, but the drive from these clusters may exceed your distance requirements. The feeder schools for those high schools can be provided if there is interest. A number of homes that fall within the guidelines that you provided are also available for sale in those areas. Please call on me should there be any interest in a list of those homes for your review.

Lastly, I serve the community not only as a producing real estate agent, but also as an active substitute teacher in the school system. That allows for unique insights into school operations, staff and several other matters that should be of interest to new residents. I take great pride in the work being done at Gwinnett County Public Schools as a parent of an elementary school student here, as an employee, and hopefully as your agent.

Will you please call on me when the time comes to start your search?

Solomon Greene
REALTOR®/ Consultant - Keller Williams Realty Atlanta Partners
http://www.TheAtlantaHomePages.com
... more
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