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Carrollton : Real Estate Advice

  • All58
  • Local Info4
  • Home Buying14
  • Home Selling0
  • Market Conditions6

Activity 36
Sat Mar 4, 2017
Gregg Pomeroy answered:
Hello, I'm a mortgage professional.

There are a lot of different mortgage programs available.

If you have at least a 580 score you can qualify for an FHA loan. You would only need 3.5% down payment and you can even roll in closing costs using a sellers concession.

if you have a higher credit score there are other programs available as well.

I can explain more if you would like.

If you have any questions or would like help with this you are welcome to get in touch with me.
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Sun Feb 26, 2017
Anthemsgirl asked:
In May 2014 my husband and I separated and I filled bankruptcy including our mortgage. My bk was discharged in January 2015. My husband let the house go to foreclosure. The lender is saying…
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Tue Jan 6, 2015
Lori G McDowell answered:
Sat Dec 6, 2014
Suzanne MacDowell answered:
I would not recommend making an offer on a home you have not actually seen. Pictures can be deceiving. I suggest you find a good local real estate agent to work with and go see the home. Then, if you like it, if the price is right, and so forth, they can help you with the offer. ... more
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Sat Dec 6, 2014
Suzanne asked:
Fri Oct 24, 2014
Kendall Estes asked:
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Thu Jul 31, 2014
bcothran asked:
Mon Jul 21, 2014
Sista Candy asked:
are their many mixed races
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Fri Jul 18, 2014
Josh Barnett answered:
Call the apartments and condos directly, you will have better luck that way.
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Wed Jul 9, 2014
Tina Lam answered:
Fri Jun 27, 2014
1994gotitright asked:
Thu May 1, 2014
mclainjaime asked:
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Thu May 1, 2014
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Mon Dec 23, 2013
Lauren Yates answered:
Gas service is deregulated here, so you can choose any provider you like after shopping the rates.
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Sat Dec 21, 2013
Curtis R Green Jr asked:
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Sun Dec 15, 2013
Rodney Mason answered:
I do not suggest doing lease purchases/rent to own. There are simply way too many things that can go wrong with one from either side.

In order to do true owner financing, the owner must own the property free and clear of any mortgages. Very few sellers are going to be in that position.

If the property currently has a mortgage on it, the owner cannot legally transfer the title to a buyer without the mortgage first being paid in full. Most all mortgage loans have a due on sale clause. This due on sale clause requires that the mortgage be paid in full should a title transfer occur.

The buyer is also at great risk on a lease purchase transaction should the seller quit making their mortgage payments. Right now, many sellers cannot afford to make their mortgage payments or simply chose not to continue making them. I have seen where the buyer is making their rent payment, but then the owner is not paying the mortgage. The next thing the buyer knows is that the home is in foreclosure. That means the buyer will generally not get back any of the money they have given as earnest money or security deposits.

It is also a big risk on the buyer. If your credit is not where it needs to be now, there is no possible way of you knowing it will be acceptable in a set amount of time.

Before entering into any type of agreement like that, the buyer needs to make sure that they fully understand the potential pitfalls that could arise. Should the seller default on the mortgage, the buyer could lose ALL of the money that they have invested. Until you are able to purchase, renting is generally the safer option.

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 see if purchasing might be a possibility for you. To get Pre-Qualified for your purchase, you can submit your request online at to get started.

Rodney Mason, NMLS #151088
Sr Loan Officer
Prospect Mortgage
825 Juniper St NE, Atlanta, GA 30308
Office: (404) 591-2453
Apply Online at
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.
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Wed Dec 4, 2013
Tim Moore answered:
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Wed Aug 14, 2013
Brian Nguyen answered:
If you are a first-time home buyer you should consider getting an FHA loan. This loan is designed to help out first-time home buyers because FHA loans usually means low down payments, low closing costs, and easy credit qualifying. FHA loans will usually allow for lower credit scores as long as it is over 500.

Also, for your scenario FHA loans make allowances for loan applicants with a non-traditional credit history or insufficient credit. These types of loan applicants may be able to be approved for an FHA loan if they meet FHA requirements for such circumstances. Some of these requirements include references that can be taken from the following: rental housing payments, utility company references (gas, electricity, water, cable, etc.), school tuition, automobile leases, insurance premiums, retail store credit cards, and a documented 12 month history of savings from a bank. These are all ways in which a lender will review your credit without actually having credit.

Well I hope this helps! If you have any more questions or if you need a loan, feel free to contact me through the contact information on my profile page!

*The information I gave above was taken from the HUD Handbook so if you want more information check out section 1-C-9 from the handbook in this link:

Brian Nguyen
Sr. Mortgage Banker
NMLS # 659743
Phone: 949.667.2887
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