Wednesday, September 28, 2016

SELL your UNDERWATER HOME With A $50,000 Grant from Underwater GEORGIA

Underwater on your home?

Want to sell it ?

This is a limited-time initiative to help Georgians who owe more than their homes are worth through a one-time principal reduction.  

This non-profit grant program will provide homeowners that qualify with a grant

of $5,000 to $50,000 to reduce the principal on their home.  This is a GRANT program,

which means it does not need to be paid back.  Yes FREE MONEY!!!!

So if your underwater on your home and need to sell, this may be the program for you.

"Based on current funding, an estimated 2,700-3,000    eligible Georgia homeowners will receive assistance...

 Home safe Georgia

The term “Applicant” includes all homeowners and borrowers legally bound to the home, and the spouse (if applicable).

  • The program applies only to an applicant’s primary residence, which must have been purchased prior to January 1, 2012.
  • The total lien balance on all mortgages for the subject property must be less than $250,000.
  • The property must have a loan to value greater than 110%, which can be reduced to 100% - 125% with assistance from $5,000 to $50,000.
  • The mortgage must be less than 90 days delinquent.
  • The lender/servicer must be participating in the HomeSafe Georgia programor    agree to participate.
  •  Applicant(s) cannot currently own more than one home.
  • Applicant(s) cannot be in active bankruptcy and must be current on tax filings.(Tax liens, if any, must be less than $10,000 total and have a documented activepayment plan in place.)
  • The total gross household income (all income received by residing applicants) must be able to support the mortgage payment but not exceed 140% of the averaged Area Median Income of their county.
  • Additional criteria apply.



Saturday, September 3, 2016

FREE Grant Money To Buy A Home....ACT Now LIMITED Funds

The National Association of Realtors reported that the 

"most difficult step in the home buying process was saving for a down payment

as cited in their 2015 Profile of Home Buyers and Sellers*

THERE IS A SOLUTIONNational HomeBuyer's Fund Down Payment Assistance (DPA) programs which provide DPA in the form of a 

  • Down payment and/or closing cost assistance grant, up to 5% of the loan amount.
  • Down Payment Grant (DPA) grant never has to be repaid.
  • Affordable interest rates and variety of grant levels.
  • FHA, VA, USDA and Conventional mortgage loan options.
  • NOT limited to first-time homebuyers.(no investors please...sorry)
This program was taken off the market a few years ago it's returned, but the funding is limited.
****you have to move quick***

Unlike the Georgia Dream Program (we all love) you don't have to be a... 1st time home buyer to qualify for this grant.

  • No Double closings

A DPA grant decreases homebuyer costs, avoids burdening the homebuyer with additional debt and eliminates property liens associated with secondary financing options.

This also creates a long-term positive domino effect because the housing market is infused with borrowers holding more equity for a future move-up purchase if they desire, in turn freeing up another potential entry-level property.
  • Grant reduces debt and creates positive home equity.
  • Grant creates a positive impact on housing economy.

  Non-repayable grant up to 5% of the mortgage loan.
  • Generous FICO/DTI requirements.
  • Low-to-moderate income limits (qualifying income only).
  • FHA, VA, and USDA loan types.
  • Available in multiple states.
  •   30-year fixed term with full amortization

Ok, There are income limits for this program, and varies county by county....                               

Cobb           Fulton       Dekalb
$77,625       $77,625     $77,625     Updated 4/12/2016


You Must: 

Occupy the residence as their primary residence; non-occupant co-borrowers are not allowed.

If You Want To Know More About This Program Please Complete The Form Below!!!

Friday, August 12, 2016

6 Diffrent Types of Homes Loans that May work for you!!

Fixed-rate loan

The most common type of loan, a fixed-rate loan prescribes a single interest rate—and monthly payment—for the life of the loan, which is typically 15 or 30 years.
Right for: Homeowners who crave predictability and aren’t going anywhere soon. You pay X amount for Y years—and that’s the end. The rise and fall of interest rates (like the nationwide increase that followed the Fed’s action in December) won’t change the terms of your loan, so you’ll always know what to expect. That said, they’re best for people who plan to stay in their home for at least a good chunk of the life of their loan; if you think you’ll move fairly soon, you may want to consider the next option.

Adjustable-rate mortgage

ARM loans offer interest rates typically lower than you’d get with a fixed-rate loan for a period of time—such as five or 10 years. But after that, your interest rates (and payments) will adjust, typically once a year, roughly corresponding to current interest rates. So if interest rates shoot up, so do your monthly payments; if they plummet, you’ll pay less.
Right for: Home buyers with lower credit scores. Since people with poor credit typically can’t get good rates on fixed-rate loans, an ARM can nudge those interest rates down enough to put homeownership within easier reach. These loans are also great for people who plan to move and sell their home before their fixed-rate period is up and their rates start vacillating.

FHA loan

While typical loans require a down payment of 20% of the purchase price of your home, with a Federal Housing Administration loan, you can put down as little as 3.5%.
Right for: Home buyers with meager savings for a down payment. These loans come with several caveats. First, most loans are limited to $417,000 and don’t provide much flexibility: Rates are typically fixed, with either 15- or 30-year terms. Buyers are also required to pay mortgage insurance—either upfront or over the life of the loan—which hovers around 1% of the cost of your loan.

VA loan

If you’ve served in the United States military, a Veterans Affairs loan can be an excellent alternative to a traditional mortgage. If you qualify, you can score a sweet home with no money down and no mortgage insurance requirements.
Right for: Veterans who’ve served 90 days consecutively during wartime, 180 during peacetime, or six years in the reserves. That said, the VA has strict requirements on the type of home you can purchase: It must be your primary residence, and it must meet “minimum property requirements” (that is, no fixer-uppers allowed).

USDA loan

USDA Rural Development loans are designed for families in rural areas. The government finances 100% of the home price—in other words, no down payment necessary—and offers discounted interest rates to boot.
Right for: Families in rural areas who are struggling financially. These loans are designed to put homeownership in their grasp. The catch? Your debt load cannot exceed your income by more than 41%, and, like the FHA loan, you will be required to purchase mortgage insurance.

Bridge loan

Also known as a gap loan or “repeat financing,” a bridge loan is an excellent option if you’re purchasing a home before selling your previous residence. Lenders will wrap your current and new mortgage into one payment; once your home is sold, you pay off that mortgage and refinance.
Right for: Homeowners with excellent credit and a low debt-to-income ratio, and who don’t need to finance more than 80% of the two homes’ combined value. Meet those requirements, and this can be a simple way of transitioning between two houses without having a meltdown—financially or emotionally—in the process.

Tuesday, July 12, 2016

10 Commandments For The Mortgage Process

1) Thou shalt NOT change jobs, become self-employed, or quit your job.
2) Thou shalt NOT buy a car, truck, van, motorcycle, ATV, or any other vehicle (or you may be living in it)
3) Thou shalt NOT use your credit cards excessively or let ANY of your payments fall behind.
4) Thou shalt NOT spend the money you have set aside for downpayment or closing costs.
5) Thou shalt NOT buy furniture, appliances, or household items before you buy your new house.
6) Thou shalt NOT originate or allow any new inquiries on your credit report.
7) Thou shalt NOT make any large OR 'cash only' deposits into your bank accounts or transfer money between accounts without first consulting your mortgage consultant.
8) Thou shalt NOT change bank accounts.
9) Thou shalt NOT co-sign for anyone, or allow authorized users to charge on your credit accounts.
10) Thou shalt NOT omit any debts or liabilities from your loan application.

Need A Good Lender or Maybe Just want to know more about the loan process Contact Me Below!!!!

WE DeKalb Housing Initiative, Down Payment Assistance Grant

We DeKalb stands for Work Force Enhancement.  it is a partnership with DeKalb Chamber of Commerce and Decide DeKalb Development Authority. The WE DeKalb housing initiative, a program that provides home ownership opportunities for DeKalb’s workforce.

DeKalb County businesses can offer this "owner-occupant program" to their employees as an economic incentive. The program also offers attractive re-financing opportunities for select homeowners’ existing mortgages, depending on the rate option selected.
Employees of DeKalb County businesses considering relocation to DeKalb County or currently residing there may take advantage of this unique program that offers qualifying home buyers, a 30-year fixed-rate mortgage with down payment assistance (DPA Grant) equal to either 3% or 5% of the mortgage amount, with no repayment. The grant can be used for down payment and or closing cost assistance.
Here's how the WE DeKalb Program works:
  • Select a lending institution from the approved lender list.
  • Contact the lender and present a letter of introduction along with your completed your mortgage application. The determination of your mortgage application is governed by the lending institution. The approved participating lender can help determine if you meet the program qualifications.
General Guidelines:
  • Mortgage rates for the program will be the same or slightly above the market mortgage rates depending on the selected DPA grant option. Rates will change periodically
  • Maximum qualifying income – $81,900 (families of 2 or less) and $95,600 (families of 3 or more)
  • Eligible VA and FHA loans
  • FHA mortgage limit is $342,700
  • VA mortgage limit is $417,000
  • Minimum FICO score of 660
  • 45% debt-to-income (DTI) ratio
  • No first-time homebuyer requirement
  • Residential property
  • Owner-occupied
  • Property must be located in DeKalb County
  • New or existing 1-4 units detached or attached, condos, town homes, and manufactured homes that meet service/guarantor requirements are eligible
  • No prepayment penalty
  • Standard agency guidelines still apply
  • Recreational, seasonal, or other types of vacation or non-permanent homes;
  • Buy downs are not permitted;
  • Cosigners are not permitted; and
  • Construction to permanent is not permitted.
Next Steps:
If you are interested in getting approved for the WE DeKalb Program please contact me by completing the information below.  Someone will reach out to you within 24 to 48 hours.