New 85% Jumbo Loan

We have a new Jumbo Loan in Georgia.  We can now go up to 85% with a loan amount up to $1.5 million.  One of the best parts about it is no mortgage insurance and there is a 30 year option as well as ARM options.  Must have a good credit score on this one,… [Read More]

Little Known Secret about GA VA Loans


There is a little know secret when you are trying to obtain a VA loan in Georgia.  I have been helping Veterans with this for years.  VA loans allow the seller to pay up to 4% of the sales price toward a borrower’s debt.  Let’s say you are buying a $200,000 home and you have… [Read More]

Georgia FHA Fee’s Going up Again


It was just announced by HUD that they are increasing the FHA monthly mortgage insurance, again.  This will be the second time in less than a year.  The upfront mortgage insurance premium will remain the same at 1%, but the monthly mortgage insurance premium (MIP) is increasing from .90 to 1.15.  This is another considerable… [Read More]

Update on USDA Funding Issues


USDA is still on the verge of running out of money.  Most people assumed they would already be out of money by now, but we are still getting commitments.   One thing that we do know for sure is that USDA and Congress are working on the funding issue.  We also know that the USDA funding… [Read More]

USDA and Flood Insurance, Problems for GA Homeowners


The two most important issues facing Georgia home loans right now are USDA rural development and flood insurance.  USDA loans have become wildly popular in the last two years due to the fact it is one of the only 100% loan programs left.  In the middle of March USDA announced that they anticipate running out… [Read More]

2010 Georgia Mortgage Limits


Georgia Conventional conforming loan limits will remain unchanged for 2010.  The current conforming limit for a GA Mortgage is $417,000 and will remain the same for 2010.  The only exception to this in Georgia, is Greene County, which is where Lake Oconee is located.  The Greene County conforming limit will also remain unchanged, but will… [Read More]

GA 203K Rehab Loans for Foreclosures


Foreclosures are a hot topic right now for obvious reasons. People are finding incredible deals on bank owned properties. One common complaint I keep hearing though is, “The property needs some work.” So what do you do? Pass on this house and look for the next one. You could, or you could get a 203k… [Read More]

How to Raise Your GA Credit Score in 60 Days

GA Credit Score

Recently lenders have raised their minimum credit score requirements.  For example, most lenders now require a 620 fico score for FHA loans.  USDA rural housing has made it harder to qualify with a score below 620.  Even if a lender will allow you to have a score below 620, you will most likely have a… [Read More]