Georgia Dream HHF offers $15,000 for downpayment in economically challenged areas. Eligible counties include Fulton, DeKalb, Clayton, Muscogee, Douglas, Chatham, and Bibb....
April 2024
Amid rising inflation, mortgage rates in the U.S. are expected to stay high, with forecasts delaying relief for homebuyers until later in the year. The Federal Reserve's first rate cut is now predicted for September at the earliest due to persistent inflationary trends. Continue to full article...
Mortgage rates, which have been stable between 6.5% and 7% since December, may drop due to expected Federal Reserve rate cuts later this year. However, experts predict that rates will either fall below 6% by Q1 2025, or hold steady through 2024 or mid-2025. Despite potential rate drops, experts advise not to delay home purchases as home values are currently stable and waiting could lead to higher prices...
6. Gainesville: - Home price: ~$351K - Full payment: $2,746 - Rent: $2,075 - Difference to buy: ↑ $6725. Macon: - Home price: ~$158K - Full payment: $1,412 - Rent: $1,337 - Difference to buy: ↑ $75...
FHA loans, including 203(b) and 203(k) options, offer low down payment requirements, easy credit terms, and low closing costs. These government-backed loans are suitable for purchasing or refinancing homes, with 203(k) loans specifically for properties needing rehabilitation. Credit score requirements vary based on down payment amounts, with no income limits. Both loan types require occupying the...
Avg closing costs in Early-Q1 2024 Georgia are ~1.3% of the home's sale price.For a median-priced home of $350K, avg closing costs are ~$4,550....
Tips for first-time home buyers on getting pre-approved for a mortgage quickly: Talk to a loan officer for guidance, ask for referrals from friends, review your credit report for errors, gather necessary documentation, work with one mortgage professional to find the best option, consider interest rates, fees, and customer service when choosing a lender. Continue to full article...
1. Mortgage Availability enables 80% of Americans to become homeowners without hefty upfront payments. 2. Homeownership yields equity, appreciation, and profit potential upon sale, providing financial security and investment opportunities....
Today's mortgage interest rates continued a recent trend, with decreases seen across various home loan terms. The average rate for a 30-year fixed mortgage is now 7.37%, while 15-year fixed mortgages are at 6.54%. Rates for 20-year fixed mortgages also decreased. Adjustable rate mortgages offer both risk and reward, with rates that can change over time. It's important to shop around for the...
One in 10 homebuyers use retirement accounts for down payments, which financial planners say can be a reasonable option if done as a loan. The IRS sets limits to protect savings, and while it affects long-term growth, it can make sense for those prioritizing homeownership. Younger buyers are more likely to use this option, but it's advised to explore other options first. Continue to full...