Financing Mortgage :: Buckhead Homes and Real Estate

Archive for Financing Mortgage

Homebuyer Closing Cost Estimator for Georgia

I’ve been reviewing my 2009 posts and the Georgia Home Closing Cost Estimator was one of the most popular. Therefore, I’ve updated the spreadsheet and reposted it below. When using the spreadsheet, feel free to make any changes, although the green numbers are the ones you’ll most likely change. If you make [...]

Housing Stimulus Plan

Earlier this year I blogged about an economic stimulus package called the American Recovery Reinvestment Act (ARRA) of 2009. One aspect of this stimulus package is that it has allowed qualified, first time home buyers and/or qualified home buyers (who have not owned a home in 3+ years) to receive up to an $8,000 [...]

Short Sale Primer

I’ve written about short sales fairly extensively on this blog and have actually dealt with short sales and foreclosures more than a lot of my colleagues in Buckhead, Sandy Springs and Dunwoody. I have worked with clients in Buckhead and Sandy Springs who have tried to buy pre-forecosure and REO properties. I’ve seen [...]

5 key features of Obama’s loan modification plan

Loan modification is one of the most effective ways to stay current on your mortgage if you’re not able to make your monthly payments. It can be defined as a restructured payment agreement between you and your mortgage lender. US President Barack Obama has introduced mortgage modification plan that can help the borrowers to stay [...]

Mortgage Rates Continue to Fall

Freddie Mac reports a drop in the 30-year fixed mortgage rate to 4.82 percent during the week ended May 21 from 4.86 percent the prior week. Meanwhile, the 15-year fixed mortgage rate dipped to 4.5 percent.
The Federal Reserve is working to hold down rates by purchasing upwards of $1.25 trillion in mortgage-backed securities and $300 [...]

Unique Buyer Incentives at Buckhead's Terminus

When I first read that the new Terminus condos in Buckhead were offering buyer incentives, I almost skipped the article. The idea of reading about another condo complex offering $5,000 in upgrades seemed redundant to me. Since I live two blocks from the Buckhead buildings and have always been impressed with Cousins Properties, [...]

The phase-out of the mortgage interest deduction

It’s amazing what a really bad idea phasing-out the mortgage interest deduction is in light of the current real estate market. It seems as if the current administration is a bit contradictory when trying to stabilize the housing market and pull the rug out from the mortgage industry at the same time. If [...]

Atlanta Pre-Foreclosures and Auctions

According to a survey by the Mortgage Bankers Association, one in eight Georgia mortgage holders were in pre-foreclosure in the fourth quarter of 2008. While most of the foreclosures are happening on the south side of Atlanta, there are still some great deals in Buckhead and north Atlanta.
You can get limited access to a [...]

Should you ask for closing costs?

I’m asked by a lot of buyers about closing costs and whether it’s something to ask for in the offer. First, closing costs should not be treated as a magic rebate coupon that gives you an instant discount on the purchase price of the home. If you request closing costs then you’ll pay [...]

Georgia Home Buyer's Closing Cost Calculator

Here is a very rudimentary spreadsheet I developed for calculating the buyer’s closing costs. I cannot stress enough that you need to speak with a mortgage professional for a more accurate estimate of closing costs.
When using the spreadsheet, feel free to make any changes, although the green numbers are the ones you’ll most likely [...]