GREAT FHA LOAN INFORMATION

Our great in house lender, WR Starkey shared some information with us this week about FHA loans. Here are some facts about FHA loans that show it still a great way to go!

- 3.5% down payment (96.5% loan-to-value)

- 100% Gift Funds allowed on down payment (from family member or employer)

- Can have up to 6% in Seller contributions

- No price adjustment for lower credit scores (620 minimum credit score)

- Mortgage Insurance NOT credit driven

- FHA does not have "declining market" guidelines (helps in appraisals)

- More flexible on credit issues (can buy sooner if you've filed bankruptcy or had to forclose)

- Atlanta MSA loan amount currently $346,250

- You do NOT have to be a 1st time homebuyer and there are NO income limits

- Easier to get approved than Conventional financing!

- Non-occupant co-borrowers allowed (Kiddie condo-- both need credit, not income)

- Possibility of spot approvals on condominiums

If you have any questions about FHA loans or any other mortgage issues please don't hesitate to call our wonderful lenders Sharon Lintault or David Lowrimore at 678-631-1700.

SUMMER CAMP TIME!

I know a lot of you are on Spring Break this week. We hope you are enjoying time with your family and friends. This is the last break before all the craziness of the end of the school year. With the end of the school year comes the time for making plans for Summer!!
Atlanta Parent Magazine is a great online resource for local Summer Camps. Check out ALL of the camps and activites around the Metro Atlanta area. If you have a camp or summer time escape that you recommend please email us and let us know. We would love to post it and share your experience.