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Home Buying in Stone Mountain : Real Estate Advice

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  • Local Info30
  • Home Buying58
  • Home Selling7
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Activity 68
Thu Jan 26, 2017
vmoda990 asked:
Fannie Mae required me to sign a owner-occupied affidavit. I lost my job and got a job further away. Can I move and rent out this house?
0 votes 0 Answers Share Flag
Sun Nov 27, 2016
Alexander Ross answered:
David, The first step in the process is getting pre qualified for a mortgage. We look at credit score (750 is excellent), debt to income, and finally employment (length and type). From that we will get you a pretty good idea of what you can afford and you can start shopping with a realtor. You can contact me via my profile and we can set up some to discuss the pre-approval process if you would like.

Best,
AR
... more
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Tue Jul 26, 2016
Nk1900 asked:
Sat Jul 16, 2016
Sally Grenier answered:
I'm confused by your question. Are you not working with a REALTOR? Are you already under contract or wanting to make an offer? Or are you wanting to negotiate inspection items? Impossible for anyone here to give you a clear answer without knowing an exact address, or what your situation is. Your agent should have done a CMA to begin with to determine a fair offer. Also, what's the market like in your area? Many parts of the country are in a very healthy seller's market where homes are selling for full price, if not 3-5% HIGHER. If you're under contract and just did inspection, I'd see if either they would make the repairs, or give you a $2500 credit toward closing costs. It's better to do that, instead of a reduction in purchase price. Since a credit toward CC's will give you a greater impact by reducing the amount of cash you need to bring to closing. Make sense? Again, you should be talking to your Realtor. ... more
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Tue May 24, 2016
Robin Turner asked:
Thu Apr 21, 2016
Naishlos Yosef asked:
We have property in Lithonia GA 30038
Seeks to acquire additional properties
Asks for a recommendation on company management with recommendations
0 votes 0 Answers Share Flag
Mon Jun 15, 2015
Tracey Mobley answered:
Hello I am a Real Estate Broker in Stone Mountain as well as live in Stone Mountain. I can honestly tell you as with most areas. There are some great areas and then not so great areas. I would be happy to speak with you about your needs. I know schools are definitely important for you. Call me at 872-239-4110. Tracey Mobley ... more
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Thu May 14, 2015
Suzanne MacDowell answered:
First, have you spoken to your lender about a renovation loan? It would permit you to purchase the home and pay for the repairs all in one loan. It's a good work around for the situation with the gas and water lines as long as the home appraises for the value of the mortgage (purchase price plus cost of repairs). Second, your agent has an obligation to obey your instructions as long as your instructions are not illegal or unethical.

Talk to the lender and the agent about either an FHA 203K or a Fannie Mae Home Style renovation loan and see if you can't salvage the deal.
... more
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Wed May 13, 2015
Jirvin888 asked:
I went to inspect the property from the outside around March 17, and there was no damage. I later went with my agent around April 25th and noticed the glass had been punched out in the back…
0 votes 0 Answers Share Flag
Fri Mar 13, 2015
Jeri Patrick answered:
Thu Mar 12, 2015
Brittnie answered:
What if someone else listed your home on Trulia? How would you know who to contact etc? This was on my home and it is not even listed on Trulia.
0 votes 2 answers Share Flag
Sun Nov 23, 2014
Solomon Greene answered:
Hi Marula

It is hard to describe areas as good or not since that is quite subjective. You might want to review the schools that serve Stone Mountain in both Dekalb and Gwinnett Counties. The Gwinnett County area of Stone Mountain is actually unincorporated Gwinnett County while the Stone Mountain City Limits are in Dekalb. Rest assured that there is a good quality of life otherwise (shopping, convenience to interstates, parks, etc.) all over the area. ... more
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Mon Jun 16, 2014
allan erps,ABR,SFR answered:
Sounds like many Agents will be responding to this request real soon!!
0 votes 1 answer Share Flag
Mon Jun 16, 2014
allan erps,ABR,SFR answered:
Not the right course of action. In my area an experienced Agent may have pointed out several of these concerns when showing. More importantly there is a big difference between recommendations & problems from infestation, structural damage or safety issues. Not knowing those problems makes this a bit difficult to answer but best of luck. Allan ... more
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Wed Feb 19, 2014
Brian Nguyen answered:
Have you considered what you will do when it comes to financing? Someone in your situation should consider looking into a Foreign National Mortgage. These loans are meant for non-residences who are seeking a home loan in the United States. The minimum down payment for these types of loans are usually around 20%. Lenders, like myself, can give out these types of loans for non-residences who want a mortgage in the United States. I would recommend speaking with a lender like myself who would be more than willing to help you out. Well I hope this helps! If you have any further questions or if you need a loan, feel free to contact me. Also, if you found this helpful please leave me a recommendation if you can! Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
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Thu Jan 30, 2014
Rodney Mason answered:
Hi Lisa,
Depending on how low your credit score is, FHa might be your only option. An FHA mortgage will require a 3.5% down payment.

You really do not want to start looking at homes until your Pre-Qualification has been completed. Your Pre-Qualification will give you an estimate of your monthly payment and potential cash to close. It is VERY important to make sure this reality matches your expectations. If not, you could be looking in a wrong price range.

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. The following documentation will be needed:

• Two most recent years of W’2’s/income 1099’s
• Two most recent years of Federal Income Tax returns
• Two most recent pay stubs
• Two most recent months of bank statements (all pages)

A loan officer who does not ask for and properly review all of the above documentation along with your credit report 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 90-120 days old, 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.

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 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 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.
... more
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Sat Oct 26, 2013
Jennilee Santiago answered:
Peanut03,

I can set you up to receive property notifications that have the amenities you are looking for in the areas you are looking in.

Please email me your requirements at Jennilee.Santiago@ColdwellBankerAtlanta.com

thanks,

Lily Santiago
... more
0 votes 3 answers Share Flag
Mon Oct 21, 2013
Sally Wildasinn answered:
Hello Janecny,
My mother-in-law just sold her SC home after purchasing a home in another state. I am a member of the "Leading Real Estate Companies of the World", and would be very happy to assist in referring you to a Real Estate Agent in your area and anther Agent in the area /state that you plan on moving to.

Best Regards,
Sally Wildasinn, Realtor
Fickling & Co

http://www.sallyshomelistings.com
... more
0 votes 5 answers Share Flag
Fri Oct 18, 2013
Solomon Greene answered:
Giving Brian the thumbs up on this one. Georgia Dream often requires proof of 30 days of continued employment. Of course, there are other things to be considered.

Solomon Greene
Georgia Real Estate Brokers Associate,
REALTOR®, REALTIST®, CDPE
Certified Affordable Housing Counselor
Keller Williams Realty Atlanta Partners
http://www.TheAtlantaHomePages.com
(678) 775-2677
... more
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Wed Oct 16, 2013
Rodney Mason answered:
Unless you are on maternity leave, then Short Term Disability income could NOT be used as Qualifying Income. To meet the standards for Qualifying Income, it must be reasonable and consistent and continue at east 36 months into the future.

The Agencies (Fannie Mae, Freddie Mac, HUD) have very specific requirements that must be met before that type of income may be used.

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 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 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.
... more
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