duluth: 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)

duluth: 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)

duluth: 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)

duluth: 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)

duluth: Why Do Lenders Prefer a Short Sale Over a Foreclosure??? - 08/13/11 03:25 PM
Why do lenders prefer a short sale over a foreclosure is a common question asked by buyers and sellers.  The reason all comes down to money.  Any home owner that does a short sale or has a property go into foreclosure ends up costing their mortgage company a lot of money.  When a seller does a short sale, it ends up costing the lender about 20-30% less than if they have to foreclosure. 
Maintaining a foreclosed property is an expensive understanding for a mortgage company.  The legal fees associated with a foreclosure can be costly for the lender.  They also have … (15 comments)

duluth: What Is A Short Sale? - 08/13/11 12:54 PM
A home sale is classified as a "Short Sale" whenever it is sold for less than the amount owned on the mortgage and the mortgage lender accepts less than the full amount due on the outstanding balance.  The seller must meet several criteria in order to qualify for a short sale?  Some of those include:
The seller must owe more on the home that its current value The seller must prove that the home cannot be sold for enough to satisfy the current outstanding mortgage(s) owed The seller must demonstrate that they are suffering from a financial hardship which leaves the … (3 comments)

duluth: Completed HAFA Short Sales Pass 10,000 Closings - 08/13/11 12:04 PM
According to a recent article from HousingWire, completed HAFA Short Sales have now surpassed 10,000 closings.  Since the Home Affordable Foreclosure Alternatives (HAFA) program was launched in April 2010, mortgage servicers have now completed 10,438 HAFA short sales through the end of June 2011. 
JPMorgan Chase tops the HAFA closed volume list.  The lender has now completed almost 3,600 approved HAFA short sales through the program. In June 2011 alone, nearly 1,000 were completed.
Wells Fargo comes in second place in completed HAFA short sales.  They have completed over 3,100 HAFA transactions.  Of those completed, nearly 700 were done in June 2011 alone.
Bank … (6 comments)

duluth: Can I Purchase After a Short Sale in Georgia? - 08/06/11 06:12 AM
Can I purchase after a short sale in Georgia? 
That is a common question on the minds of many Georgia sellers in today’s market.  The answer is, possibly.  In December 2009, HUD announced guidelines under which a seller who has completed a short sale can buy a new home utilizing FHA financing. 
Short Sales
According to FHA underwriting guideline, borrowers are not eligible for a new FHA loan if
·         They pursued a short sale on their principal residence simply to take advantage of declining market conditions, and  purchase, at  a reduced price, a similar or superior property … (3 comments)

duluth: New, Lower FHA Loan Limits for Gwinnett County, GA - Effective October 1, 2011 - 07/10/11 11:17 AM
The Housing and Economic Recovery Act of 2008 raised the maximum conforming loan limit in the contiguous United States, the District of Columbia and Puerto Rico to as high as $729,750.  Of course, most counties across the country saw much lower loan limits. 
Conforming loan limits, which had been raised for many high-cost areas throughout the country to a maximum of $729,750, are expected to expire September 30, 2011. After this deadline, high-balance loans will once again be classified as "jumbo" and carry a higher interest rate.
Once the maximum loan limits are lowered, the new FHA loan limit for Gwinnett County, GA (as … (0 comments)

duluth: HomePath Renovation Financing For GA Fannie Mae REO's - 05/14/11 05:36 AM
HomePath Renovating Financing is Here!!!!
Prospect Mortgage is now one of the few lenders across the country to offer the HomePath Renovation financing option for Fanne Mae REO properties in Georgia.  HomePath mortgages are only available for select Fannie Mae REO properties.  Eligible HomePath properties can be found at www.HomePath.com. 
Maximum LTV:
Primary Residence - 1-4 units - Max 97% LTV Second Home - 1 unit - Max 85% LTV Investment Property - 1 unit - Max 85% LTV Investment Property - 2-4 units - Max 75% LTV Eligible Property Types:
SFR (Single Family Residence) - Attached and Detached Townhome Condo 2-4 … (3 comments)

duluth: Can I Close on an FHA Mortgage If the Utilities Are Off? - 03/05/11 12:59 PM
 Can I close on an FHA Mortgage if the utilities are off?
The typical answer is no.  All traditional FHA mortgages require that all utilities must be on at the time of the appraisal inspection.  It is also required that all related systems are functioning properly at the visit.
However, the FHA 203K Renovation mortgage does not require that utilities be on for the appraisal to be acceptable.  With many foreclosed properties, all utilities may not be able to be turned on.  This is often due to missing/stolen wiring, copper pipes, HVAC unit.  When the utilities are off, the normal 10% Contingency Fee … (2 comments)

duluth: Prospect Mortgage - #2 Volume FHA 203K Renovation Lender for 2010 - 02/27/11 03:14 AM
The US Department of Housing and Development has released its FHA 203K Endorsement Report.  It is for the Fiscal Year ending September 30, 2010.  In the period of October 1, 2009 - September 30, 2010, HUD ranks Prospect Mortgage as the #2 volume FHA 203K lender in the country.  For the 2010 Fiscal Year, Prospect Mortgage closed 928 FHA 203K Renovation mortgages.  A total of 22,491 FHA 203K loans were endorsed by HUD in the 2010 Fiscal Year by all mortgage companies.
The most shocking data comes from the number of companies that closed less than 5 of these loans.  In Atlanta … (7 comments)

duluth: FHA 203K Renovation Mortgage Flow - 02/13/11 05:27 AM
FHA 203K Renovation Mortgage Flow

When using an FHA 203K Renovation mortgage to purchase a home, there is a flow that needs to be followed.  When the proper course is followed, the FHA 203K approval process goes much smoother.
 

For all of your FHA 203K financing needs, call (404) 591-2453.
 
(2 comments)

duluth: What Information Do I Need for an Existing FHA Condo (DELRAP) Approval???? - 09/01/10 09:28 AM
What Information Do I Need for an Existing FHA Condo (DELRAP) Approval????
If you are interested in an existing condo and you will be using FHA financing, the project must be FHA approved.  To find out if a condo has been FHA approved, you can visit the Condominium Page on the HUD website.  There are a variety of ways to search to a project. 
Should you not see your community on the list, Prospect Mortgage is an approved DELRAP lender.  HUD only grants DELRAP authority to direct lenders that it has deemed to have significant condo project approval experience.  At … (3 comments)

duluth: How Do I Know if a Condo Project is FHA Approved? - 07/15/10 02:46 PM
How Do I Know if a Condo Project is FHA Approved?
If you are interested in a condo and you will be using FHA financing, the project must be FHA approved.  To find out if a condo has been FHA approved, you can visit the Condominium Page on the HUD website.  There are a variety of ways to search to a project. 
You can search by:

City Zip code (I find that trying the zip code first is usually the easiest option) Condo name Condo ID
You may also need to search each approval method:
HRAP/DELRAP: New HUD Review and Approval Process … (4 comments)

duluth: HomePath Financing - Buy a Home in Georgia With Only 3% Down - 07/14/10 02:51 PM
Buy a new home with as little as 3% down.  Fannie Mae's HomePath® mortgage program is specifically for Fannie Mae REO properties.  Prospect Mortgage is pleased to be the nation's largest retail HomePath® mortgage lender.  Only a handful of lenders nationwide were selected to participate in this special financing program. 
HomePath® Financing Highlights
This special financing is available exclusively on Fannie Mae homes with the HomePath® logo.  Fannie Mae has properties available all over Georgia including: Acworth, Albany, Alpharetta, Athens, Atlanta, Augusta, Austell, Avondale Estates, Blairsville, Bloomingdale, Blue Ridge, Bogart, Brunswick, Buckhead, Buford, Canton, Carrollton, Cartersville, Chatsworth, Clayton, College Park, Columbus, … (0 comments)

duluth: Georgia Investors Can Purchase With as Little as 10% Down - 07/13/10 04:02 PM

 
Investors in Georgia are now able to purchase properties with as little as 10% down.  Fannie Mae's HomePath® mortgage program is specifically for Fannie Mae REO properties.  Prospect Mortgage is pleased to be the nation's largest retail HomePath® mortgage lender.  Only a handful of lenders nationwide were selected to participate in Fannie Mae's special financing program. 
 
HomePath® Financing Highlights
This special financing is available exclusively on Fannie Mae homes with the HomePath® logo.  Fannie Mae has properties available all over Georgia including: Acworth, Albany, Alpharetta, Athens, Atlanta, Augusta, Austell, Avondale Estates, Blairsville, Bloomingdale, Blue Ridge, Bogart, Brunswick, Buckhead, … (0 comments)

duluth: DCA Announces Lower Interest Rate on GA Dream Down Payment Assistance Program - 07/11/10 09:30 AM
The Department of Community Affairs has just lowered the interest rate on the GA Dream Down Payment Assistance Program.  To find out the current interest rate, just click here. 
New interest rates take effect every Thursday at 5:01 pm.
 
Georgia Dream First Mortgage Loan Financing
30 Year Fixed Rate Mortgage Conventional, FHA, USDA-RD, or VA programs available Up to 100% financing (Additional household income restrictions apply) The GA Dream program is for credit eligible first time home buyers or buyers who have not owned a home in the past 3 years or for buyers purchasing in a targeted county.
To … (0 comments)

duluth: DCA Announces Lower Interest Rate on GA Dream Recovery Down Payment Assistance Program - 07/11/10 08:57 AM
The Department of Community Affairs has just lowered the interest rate on the GA Dream Recovery Down Payment Assistance Program.  To find out the current interest rate, just click here. 
New interest rates take effect every Thursday at 5:01 pm.
 
There are some TEMPORARY revisions to the GA Dream Recovery (formerly Plus) Down Payment Assistance Program.
FOR A LIMITED TIME THERE ARE SPECIAL GUIDELINES FOR HOME BUYERS PURCHASING IN COUNTIES DESIGNATED AS DISASTER AREAS  
Twenty One (21) GA counties have been designated as Federal Disaster Areas as a result of the recent floods.
The counties are Carroll, Catoosa, Chattooga, Cherokee, Cobb, Crawford, Dawson, DeKalb, … (2 comments)

duluth: Buy a HUD Home in Georgia for Only $100 Down - 07/11/10 08:26 AM
Buy a HUD Home in Georgia for   Only $100 Down
HUD is currently offering it's $100 Down Payment program on it's Georgia REO properties.  Don't miss out on this GREAT opportunity to purchase a home.  For a limited time, you can purchase a Georgia HUD Owned property using a FHA loan with only $100 down.  The $100 down is instead of the normal 3.5% down payment requirement that is typically required for an FHA loan.  This offer is valid for owner-occupants only.
HUD homes are currently available in nearly every GA county.  To start searching for a HUD home in Georgia, … (0 comments)

 
Rodney Mason, VP of Mortgage Lending - AL, FL, GA, SC, & TN (Guaranteed Rate NMLS# 2611) Rainmaker large

Rodney Mason

VP of Mortgage Lending - AL, FL, GA, SC, & TN

Atlanta, GA

More about me…

Guaranteed Rate NMLS# 2611

Address: 825 Juniper St NE, Atlanta, GA, 30308

Office: (404) 591-2453

Fax: (404) 601-8488

Email Me

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