atlanta: Bank Statement Mortgage Options From Angel Oak Home Loans - 05/20/19 09:46 AM

Our Bank Statement Program is an excellent way for you to sell more homes. Prospect for self-employed buyers and let them know you have an ideal option that may help them qualify for a home. While self-employed buyers may not fit into traditional loan guidelines, many do not have credit issues keeping them from qualifying for a home loan. Their issue lies within documenting income. As well, a number of these buyers might be looking for more expensive homes that fall into non-Agency Jumbo. 
All of our products are great, but Bank Statement is one you can count on to help your … (0 comments)

atlanta: Don’t lose another bid! - 01/30/18 10:39 AM
Don’t lose another bid!
We’ll pay both the Buyer and Seller $1,000 each if we don’t close on time!
I am licensed in AL, GA, FL, & TN for all of of your real estate needs.
This offer is part of our On Time Closing Guarantee with this 15 day special now through the end of February!
Contact me to get started!
On Q Financial, Inc. is an Equal Housing Lender, NMLS 5645. On Q Financial's On Time Close Guarantee Program has restrictions and requirements. Not all loan programs apply. The 15-day closing guarantee offer expires on 2/28/18. Payment for missing closings will be paid … (2 comments)

atlanta: Make Your Offer Stand Out Among the Competition - 06/17/17 08:08 PM
Make your offer standout in a market where almost every home listing receives multiple bids. Show your Seller that you are serious about closing on time.
Use the On Q Financial On Time Closing Guarantee and we guarantee that you will close on time or we will pay the Borrower and/or the Seller $1,000 each.
Visit On Q Financial On Time Close Guarantee for more details.

atlanta: 2014 Spring MeetUP Atlanta OTP Gwinnett Wednesday, March 26th 4pm-7pm - 03/11/14 07:11 AM
2014 Spring MeetUP Atlanta OTP Gwinnett
Wednesday, March 26th 4pm-7pm

The first ever GWINNETT ActiveRain Spring MeetUP on Wednesday, March 26, 2014 - 4-7 pm.
AR MeetUPs are great business opportunities and and very enjoyable at the same time.  If you are planning to join us, would you bring an associate from your office to learn about AR as well? Let’s meet and learn from each other!
 Prospect Mortgage is proud to sponsor the OTP MeetUp in Gwinnett County at the offices of the Law Firm of  GanekWrightMinsk, PC who have generously offered their space to us for the MeetUP. Now all that … (3 comments)

atlanta: Fannie Mae Eliminates 3% Down Mortgages - 01/12/14 03:45 AM
In November 2013, Fannie Mae increased the minimum required down payment from 3% to at least 5% down on Primary Residences.  This change was due in part to Qualified Mortgage and Ability to Repay regulations that went into effect on January 10, 2014.
The 5% minimum down payment requirement applies both to HomePath® and regular Conventional mortgages.  HomeStyle® Renovation mortgages already required a 5% minimum down payment.

atlanta: FHA 90 Day Flip Rule Extended Until December 31, 2014 - 01/11/14 09:05 AM
As a reminder, HUD has announced that the 90 Day Flip Waiver for FHA mortgages has been extended once again. On January 15, 2009, HUD announced a waiver to its restriction of a borrower being able to obtain FHA financing on a property that had been acquired by the seller in the 90 days preceding the sales contract date.
The initial Flip Waiver took effect on February 1, 2010. The expiration date of the initial Flip Waiver was set as 12 months from its start date. That originally had the waiver set to expire on January 31, 2011.  Prior to the … (1 comments)

atlanta: Why Your Pre-Approval Isn't Real - 01/11/14 09:01 AM
The topic of a Borrower or Real Estate Agent requesting a Pre-Approval instead of a Pre-Qualification comes up quite frequently.  The terms have been used so interchangeably for so many years now, so it is bound to lead to confusion.  In today's market, you will most likely not be getting a true Pre-Approval letter though.  Instead, a Pre-Qualification will be given to the Borrower. 
Most lenders quit issuing true Pre-Approvals several years ago for a variety of reasons.  One main reason for the change was to be in compliance with applicable Federal laws.  RESPA laws that govern the GFE changed January 1, 2010 .  When that … (9 comments)

atlanta: Prospect Mortgage - Georgia Exclusive HomePath Program 11-20 Financed - 09/15/12 02:49 AM
A brand new Fannie Mae HomePath® opportunity is now available to Georgia investors.  The Fannie Mae HomePath® loan program has now been expanded to allow up to a total of 20 financed properties (including those currently being financed) under an exclusive Prospect Mortgage loan program.  No other lender in the country can offer this special financing to GA buyers.
Only Prospect Mortgage gives you the opportunity to capitalize on both the below-market prices of foreclosures owned by Fannie Mae and the ability to carry financing on up to 20 investment properties for each investor. Most loan programs allow … (3 comments)

atlanta: Refinance Today… Even If You Are Underwater on Your Georgia Mortgage! - 07/10/12 12:09 PM
If you are underwater on your Georgia mortgage, owing more on your loan balance than your home is worth right now; you may be able to refinance to a lower interest rate under the Federal Housing Finance Agency’s Home Affordable Refinance Program (HARP). Refinancing now, while rates are at historic lows, may save you money each month on your mortgage payment! Loan-to-value ratios have recently been eliminated, meaning that it doesn’t matter how underwater you are on your mortgage!
To qualify for a Georgia HARP 2.0 refinance, borrowers must meet the following criteria:
The mortgage must have been owned or guaranteed … (1 comments)

atlanta: What Information Your Short Sale Approval Letter Must Contain - 06/13/12 10:44 AM
If you you are purchasing a short sale, there are certain items that the seller’s short sale letter(s) must contain. 
Short Sale Approval Letter Requirements
·         Name/address of seller’s mortgage company
·         Name, contact phone#, and job title for the seller’s lender representative
·         Property address
·         Sales price
·         Seller contribution amount toward closing costs/pre-paids
·         Borrower’s name(s)
·         Expiration date of approval letter
If your short sale approval letter does not contain all of the above information, you may have a challenge with your mortgage approval. 

atlanta: FHA’s Energy Efficient Mortgage Program - 03/24/12 10:19 AM

atlanta: HUD Expands Identity of Interest Definition for FHA Mortgages - 03/06/12 12:57 AM
For all FHA mortgages, HUD recently revised its Family Member definition for Identity of Interest.   The definition of a family member, for purposes of Identity of Interest transactions has been expanded to include:  
·     Brother, stepbrother
·     Sister, stepsister
·     Uncle
·     Aunt
These changes are in addition to the previous definitions including:
·     Child, parent or grandparent 
·     Spouse
·     Legally adopted son or daughter, including a child who is placed with the borrower by an authorized agency for legal adoption
·     Foster child
An identity of interest transaction is a … (2 comments)

atlanta: REBuildUSA Partners With Lowe's for FHA 203K Renovation Mortgages - 01/25/12 12:11 PM
REBuildUSA has partnered with Lowe's Home Improvement Stores to assit home buyers and home owners.  An FHA 203K loan allows you to purchase or refinance and renovate a home in one easy loan. Your loan is based on the after-improved value – what the house will be worth once the renovations are complete.
There are no costs to you to enjoy the convenience and time saving benefits of REbuildUSA™. As your 203K Renovation Lending Specialist, I will help you understand all the features of the loanI look forward to answering your questions about the loan program and guiding … (1 comments)

atlanta: HUD Extends FHA 90 Day Flip Waiver Until December 31, 2012 - 12/26/11 02:53 PM

As anticipated, HUD has announced that the 90 Day Flip Waiver for FHA mortgages has been extended once again.  On January 15, 2009, HUD announced a waiver to its restriction of a borrower being able to obtain FHA financing on a property that had been acquired by the seller in the 90 days preceding the sales contract date. 
The inital waiver took effect on February 1, 2010.  The expiration date of the waiver was set as 12 months from its starting date.  That originally had waiver set to expire on January 31, 2011.  HUD issued an extension through December 31, 2011.
The 2nd extension is now … (12 comments)

atlanta: Atlanta, GA Market Week in Review - September 18-24, 2011 - 09/25/11 02:20 PM
The week was relatively light of economic data.  As last week evidenced, more has been driving the market that domestic data alone.  The debt issues of Europe and the potential implications of a default of Greece has been the primary focus of the global market. 
On Tuesday, housing starts came in at 571,000.  This was much lower than the 590,000 that had been predicted. 
Wednesday morning saw Existing Home Sales rise 7.7% in August.  The actual was 5.03 million.  This is more than the prediction of 4.7 million.  All eyes were on the 2:15 pm EST Federal Open Market Committee statement on economic … (2 comments)

atlanta: Select Atlanta Area Museums to Offer FREE Admission on September 24, 2011 - 09/22/11 02:36 PM
Museum goers can visit select Atlanta area museums for FREE on Saturday, September 24, 2011.  Twelve Atlanta area museums will be participating in the Seventh Annual Smithsonian Museum Day.  
These metro Atlanta museums will duplicate the Smithsonian Institution’s free admission special for that day.  Next Saturday, select museums across the country will open their doors free of charge.  Visitors must download the Museum Day Ticket from
Museum visitors must present the official pass the gain free admission.   Each pass has a limit of two people, per email address and is only valid at participating museums and cultural venues. … (8 comments)

atlanta: HVCC and It's Influence on Today's Appraisal Standards - 09/04/11 06:59 AM
The Home Valuation Code of Conduct (HVCC) was implemented in May 1, 2009 by the Federal Housing Finance Agency (FHFA).  It was designed as an attempt to improve the independence of appraisers.  It contained provisions that prohibit lenders and third parties from influencing appraisals to arrive at a certain value.  
According to NAR, the HVCC establishes standards on solicitation, selection, compensation, conflicts of interest and appraiser independence. Mortgage brokers and real estate agents are prohibited from selecting appraisers. Lenders are permitted to use “in house” staff appraisers to conduct appraisals. However, the loan production staff is prohibited from:
1) Selecting, retaining, recommending, or influencing the … (8 comments)

atlanta: Morelli's Gourmet Ice Cream & Desserts Now Open at Edgewood Shopping District - 09/03/11 12:54 PM
Morelli's Gourmet Ice Cream & Desserts is now open in the Edgewood Shopping District.  The location held its Grand Opening on June 18, 2011.  At Morelli's, you will find a large selection of ice cream, gelato, yogurt, sundaes, and more. 
There are traditional favorites like:
Banana Black Walnut Butter Pecan Chocolate Cookie Dough Cookies N' Cream Peach Strawberry Vanilla Vanilla Bean  
You will also find unique varieties such as:
Avocado Balsamic Strawberry Blueberry Pancake Coconut Jalapeno Death By Chocolate Elvis Lives (Banana ice cream Ginger Lavender Green Tea Key Lime Pie Krispy Kreamier Maple Bacon Brittle Mojito Sorbet Peach Mango Pear Pumpkin Pie … (8 comments)

atlanta: Atlanta, GA Market Update - September 2, 2011 - 09/02/11 03:43 PM

A disappointing jobs report send increased demand for mortgages and treasuries. The Nonfarm Payrolls report indicated no change in jobs.  This gives indication of stagnant growth in the economy.  The economic outlook was for 70K to 100K added jobs.  The national unemployment rate remained at 9.1%. 
The markets will be closed on Monday in observance of Labor Day holiday. 
Earlier today, the FDIC seized two Georgia banks.  Woodstock-based CreekSide Bank with two locations was taken over.  Cumming-based Patriot Bank of Georgia with one locaiton was also both seized.  They were also both sold to Atlanta-based Georgia Commerce Bank.  Due to the … (3 comments)

atlanta: Atlanta, GA Market Update - September 1, 2011 - 09/01/11 03:15 PM
The market has been active thus far this week.  Mortgages rates worsened slightly this morning following weakened demand for Treasuries.  This comes after reports that factory orders increased 2.4% last month.  Chicago Manufacturing activity also came in better than anticipated further lessening demand for treasuries.
Yesterday, Fed minutes confirmed possible discussions of possible stimulus plans to attempt to improve the economy.  Interest rates ended the day today slightly improved from this morning's worsening.  This leaves them about the same as yesterday's close.
The metro Atlanta unemployment rate dropped to 10.4 in July.  This is a slight decline from 10.5 in June.  The … (3 comments)