FHA Loans a good option for many homebuyers

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Real Estate Agent with RE/MAX Around Atlanta

For several years, it looked like FHA loans had gone the way of the dinosaur.  InsteMoney Ladyad, zero down payment programs became the extinct species and FHA loans are again a great option for many homebuyers. In fact, according to a recent article by RIS Media, almost half of the buyers for new construction in the Southeast this year purchased with an FHA loan. 

However, many buyers we see are unfamiliar with FHA loans.  So, what is an FHA loan and how can it help you?  FHA loans are insured by the Federal Housing Authority, a goverment agency.  As a result, your lender requires a lower down payment and easier credit guidelines.  Most FHA loans in GA require a down payment of 3.5% and a credit score as low as 620 with some lenders.  And in most of metro Atlanta, the loan amount can be as high as $346,250.

So, don't be overwhelmed by the thought of saving up for a 20% down payment- take advantage of the great homebuyer market that we're in!

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RE/MAX GalloonsBen Staten and Kathy Kirby Seger - RED HOT ATLANTA HOMES Group, REALTORS 

Ben at 404-323-0049 and Kathy at 404-314-8129

RE/MAX Around Atlanta - Offices around Atlanta to serve you!

Associate Broker Licenses   -  Certified Destressed Property Expert  -  Accredited Buyer Representative   -   Certified Residential Specialist  -   Senior Real Estate Specialist   -  Accredited Sellers Representative   -   Graduate of the REALTOR Institute - Certified Relocation Consultant   -   ePro

 

Homes for Sale - Woodstock, Roswell, Milton, Marietta, Alpharetta and Surrounding Areas of Metro Atlanta

Real Estate Agent for Woodstock, Roswell, Milton, Marietta, Alpharetta, and Surrounding Areas of Metro Atlanta

Selling your Woodstock Ga Home with a real estate agent, call REALTORS Ben Staten and Kathy Kirby Seger to learn about their pro-active, written marketing program.  Selling homes in Woodstock, Roswell, Milton, Marietta, Alpharetta, Holly Springs, Canton, Acworth, Kennesaw, Smyrna, Sandy Springs.

 

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Topic:
Real Estate Market Trends
Location:
Georgia Cherokee County
Tags:
fha loans
woodstock real estate
first time homebuyer
woodstock homes for sale

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Margaret Rome, Baltimore Maryland
HomeRome Realty 410-530-2400 - Pikesville, MD
Sell Your Home With Margaret Rome

Kathy, With the buyer needing only 3.5% of their own money and a bit more leeway with credit scores, this has been a good way to finance homes with smaller deposits.

Make sure if it is a condo, that the Buildings are FHA approved That means on the approved list...not "   think so"

 

Oct 30, 2009 10:17 AM #1
Rainmaker
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Kathy Seger & Ben Staten
RE/MAX Around Atlanta - Woodstock, GA
Red Hot Atlanta Homes Group

That's a great point Margaret.  We've been able to work with lender to get FHA "spot" approval  when necessary.  Unfortunately, FHA is planning to end the spot approval allowance as soon as Nov 30.  FYI, in GA at least, many townhomes with homeowners associations were filed under the condominium act and therefore also must have FHA approval in order for the buyer to get a FHA loan.

Oct 31, 2009 03:37 AM #2
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Rainmaker
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Kathy Seger & Ben Staten

Red Hot Atlanta Homes Group
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