 |
|
Georgia Residential Mortgage Home LoansWe very much look forward to the opportunity to assist you with your Atlanta GA home financing needs. Residential mortgage loans within the state of Georgia can be obtained, and we assist home buyers and home owners just like you with a wide range of purchase and refinancing options in GA. We offer fast turn around times with expedited closings.
Overview of the Programs We Offer: FHA Mortgage Programs in AtlantaVA Mortgage ProgramsFixed Rate Mortgage ProgramsSub-Prime Mortgage ProgramsJumbo and Super Jumbo Mortgage ProgramsSpecialized Financing - Stated, No Doc and Nina Mortgage Programs
FHA Home Loans in Atlanta The FHA home loan provides easier access to low rate mortgage programs designed for low to moderate income families. If you are a first time home buyer, have little savings, or have credit dings, our FHA mortgage program may best meet your needs more so than the typical conventional home loan programs.
30 Year Fixed Rate Mortgage 15 Year Fixed Rate Loans 1 Year ARM Program Streamline Refinancing Facts that make the FHA Loan ideal for the average home buyer: The Program is credit driven rather than based upon a credit score. High Approval Flexibility for Credit Dings. No credit history is required to be eligible for a home loan. College acts as your job history for those new to the work force. You can finance these residential property types: Single Family Homes, Duplex, Townhouse, Condo's and Manufactured Homes with land. Works easily with Grants and Charities that assist home buyers with Down Payment money. Typically up to 6% in seller concessions are allowed. Everyone is eligible with no income restrictions. Interest Rates are typically lower than comparable conventional rates. Absolutely no prepayment penalties are allowed. VA Mortgage Program VA Home Loans are very much like the FHA Mortgage Program. The VA Mortgage Program uses existing eligible income and credit, rather than credit score. You must be a DD-214 eligible VA Veteran and provide a copy of your existing VA certificate of eligibility. If you've already used your eligibility, you can restore it or have some remaining for an additional VA Loan. 30 Fixed Rate Home Loan 15 Year Fixed Rate Home Loan 1 Year Adjustable Rate Mortgage Streamline Refinancing Facts that make the VA Home Mortgage ideal for eligible Veterans: 100% financing. Loan Limits are comparable to conventional programs. Low interest rates. Offers both fixed and adjustable rate mortgages Easy streamline refinancing with no income documentation requirements. Conventional Home Loans Looking for a regular old Conventional Mortgage? Well, we offer that to. A conventional home loan is based upon underwriting and loan limit standards as established by Fannie Mae and Freddie Mac. These programs offer the full range of financing from 30 Year Fixed Rates to Adjustable Rate Mortgages all the way to specialty programs such as State Income Home Loans and No Documentation Mortgages. These programs are designed with Seasoned Home Buyers and Home Owners with good to excellent credit in mind. First time home buyers may have a more challenging process because of a lack of home ownership history. We do offer a conventional mortgage program designed for First Time Home Buyers with easier credit qualifying and down payment standards. This emerging markets program is a Freddie/Fannie product designed to compete with the FHA Home Loan and offer up to 103% financing. As with all conventional mortgage programs, this loan is credit score driven and credit quality driven. Our Conventional Residential Home Loan Products Include: 30 Year Fixed Rate Loan 20 Year Fixed Rate Loan 15 & 10 Year Fixed Rate Loan Interest Only Programs 1/1, 3/1, 5/1, 7/1 and 10/1 Adjustable Rate Mortgage Up to 103% Financing Construction Perm Financing Stated Income Mortgage No Income No Asset (NINA) No Ratio Loan Programs No Documentation (No Doc) Mortgage Loan 90% Non-Owner Occupied Residential Loan Bad Credit Home Loans If you have challenged credit and find yourself unable to qualify for our low interest rate FHA Mortgage program, Allstate Mortgage & Loan Corporation offers a wide range of Sub-Prime mortgage programs to assist home buyers. Our product range can help home buyers with credit scores starting with a mid-FICO score of 500 and provides up to 100% financing. The Range of Products Offered Under Our Sub-Prime Mortgage Program: 30 Year Fixed Mortgage 20 Year Fixed Mortgage 10 & 15 Year Fixed Mortgage 2/2/8 ARM Mortgage 3/2/7 ARM Mortgage Jumbo Mortgage Loans These programs cover the full range of options from Stated Income, No Documentation, NINA and Full Documentation mortgage loan programs for loan amounts up to $5M with very competitive rates and terms.
30 Year Fixed Rate Jumbo Mortgages 20 Year Fixed Rate Jumbo Mortgages 15 & 10 Year Fixed Rate Jumbo Mortgage Interest Only Programs State Income Jumbo Mortgage No Income No Asset Jumbo Mortgage No Ratio Jumbo Mortgage No Documentation (No Doc) Jumbo Mortgage Adjustable Rate Jumbo Mortgage: 1/1, 3/1, 5/1 and 7/1 ARM Products
Non Conforming loans are mortgage programs with guidelines outside of those established by traditional conventional financing. They off the full range of financing options and expand beyond traditional mortgage products offered using conventional Fannie/Freddie underwriting guidelines. From a more flexible qualifying credit score requirement to wider financing options including loan amounts which exceed conventional mortgage restrictions. Mortgage Programs Include: 40 Year Fixed Rate Mortgages 30 Year Fixed Mortgages 20/15/10 Year Fixed Mortgages 6 Month, 1/1, 1/6, 3/1, 3/6, 5/1, 5/6, 7/1, 7/6, 10/1, 10/6, 5/2/5, 2/2/6 True No Documentation - No Doc Loan Stated Income Loans No Ratio Mortgage No Income No Asset (NINA) Mortgage 80/20 Combination Mortgage 80/15 Piggie Backs 80/10/5 Piggie Backs Up To 106% Financing Up To 100% Non Owner Occupied Programs Adjustable Rate Mortgage Loans Many home buyers and Home Owners like the adjustable rate mortgage for its lower starting interest rates, flexible terms and with some programs, the ability to pick your own payment. Rates typically start between 1% to 2% below conventional 30 year fixed rate mortgage rates. All adjustable interest rates are tied to an index which determines present and future rates the borrower pays. Every program has an life time cap on how high the interest can go. Caps very by program offering and the same 5/1 program can have multiple interest rate caps. Stated Income Programs NINA - No Income No Assets Programs No Documentation - No Doc Programs No Ratio Programs Non Owner Occupied Programs Traditional ARM Programs Credit Challenged ARM Programs Adjustable Rate Mortgage Terms Include: 6 Month - Fixed First 6 Months, adjusts every 6 months 1/1 - 1 Year Fixed, adjusting once a year 1/6 - 1 Year Fixed, adjusting every 6 months 2/2/6 - 2 Years Fixed, adjusting twice a year with a maximum increase of 6% over the life of the loan 2/2/8 - 2 Years Fixed, adjusting twice a year with a maximum increase of 8% over the life of the loan 3/2/7 - 3 Years Fixed, adjusting twice a year with a maximum increase of 7% over the life of the loan 3/1 - 3 Years Fixed, adjusting once a year 3/6 - 3 Years Fixed, adjusting every 6 months 5/2/5 - 5 Years Fixed, adjusting twice a year with a maximum increase of 5% over the life of the loan 5/1 - 5 Years Fixed, adjusting once a year 5/6 - 5 Years Fixed, adjusting every 6 months 7/1 - 7 Years Fixed, adjusting once a year 7/6 - 7 Years Fixed, adjusting every 6 months 10/1 - 10 Years Fixed, adjusting once a year 10/6 - 10 Years Fixed, adjusting every 6 months Home Equity Lines As property values escalate, home buyers who took advantage of lower interest rates might not want to refinance in order to make improvements to their home, consolidate debts or simply use the equity built up in their home. Loan Amounts to $1 Million Interest Only Options Fixed & Adjustable Rate Terms 5 Year Loan 7 Year Loan 10, 15, 20 & 25 Year Loans 30/5 Year Loan 30/10 Year Term 30/15 Year Loan State Income Option Up to 100% Stated Income Interest Only Purchase Terms No Prepayment Penalties on Most Products Non-Owner Occupied Financing Options
Our second mortgage program is designed to allow home buyers to utilize equity within their home to pay off debt, make home improvements, purchase a vehicle, pay for college tuition or simply cash out. Typical 2nd Mortgage Program Terms: Stated Income Programs Alternative Documentation Programs Non-Owner Occupied Second Homes 30 Year Repayment 20 Year Repayment 15 Year Repayment
Today's home buyer knows that the cost of buying the conventional residence has escalated in many areas to the point that a new manufactured home may be a better option. Today's mobile home standards exceed the building and safety requirements of the standard "Brick and Mortar" home while offering far more amenities, square feet and options compared to traditional residential homes based upon a cost analysis. Product Types Offered For Manufactured Home Loans: 30 Year Fixed Rate Mortgage 15 Year Fixed Rate Home Loan 1/1 Adjustable Rate Mortgage Interest rates typically comparable to conventional rates. Up to 6% seller concessions are allowed. The home must be tied to the land. Up to 97% financing. Down Payment Programs can be used. Credit dings are typically over looked. Reverse Mortgages Home owners who are 62 years or older and maintain a small mortgage balance or have paid off their home are eligible to participate in the HUD reverse mortgage program. The Reverse Mortgage is designed to supplement retirement income and allow older home owners to utilize equity to better enjoy retirement. No repayment is required as long as the owner resides in the property nor are there asset or income limitations to the borrower. The older you are, the higher the percentage of your home's value you can borrow against. Refinance Loans Is your monthly mortgage payment taking to big a bite out of your monthly budget? Maybe you have an adjustable rate mortgage you want to move into a fixed rate loan before rates escalate. Was your first home financed under a subprime program and now you're ready to try for a low rate FHA Mortgage? Maybe you want to cash out, but maintain your current terms so you can still meet you home payoff goals. Refinance Home Loan Options Include:
VA Streamline Home Loan 40 Year Fixed Rate Mortgages 30 Year Fixed Mortgages 20/15/10 Year Fixed Mortgages 6 Month, 1/1, 1/6, 3/1, 3/6, 5/1, 5/6, 7/1, 7/6, 10/1, 10/6, 5/2/5, 2/2/6 True No Documentation - No Doc Loan Stated Income Loans No Ratio Mortgage No Income No Asset (NINA) Mortgage 80/20 Combination Mortgage 80/15 Piggie Backs 80/10/5 Piggie Backs Back to Menu
Whether purchasing or refinancing your home or investment property, we offer highly competitive rates on programs for self employed or 1099 borrowers. We also offer stated income programs for W-2 clients who are simply unable to show all of their income. The stated income loan allows borrowers to state income without documenting sources. No Ratio Home Loans Our No Ratio Mortgage Program allows home buyers, refinance clients and real estate investors to achieve a competitive interest rate without disclosing income. This program is ideal for the self employed and investor whose net after tax income is below what is normally considered acceptable, but can show significant assets to support adequate income to meet financial due diligence.
Our NINA Program is ideal for the self employed and real estate investor who’s net after tax income is below what would be considered acceptable and whose available liquid assets are inadequate due to the type of business or real estate holdings funds are tied into. No Documentation Home Loans The No Documentation Mortgage Loan is designed for high credit score home buyers who wish to simplify the loan application process. No employment, income, assets or liabilities are factored into the loan decision. With the No Doc loan, only the home buyer or home owner’s credit is factored into the decision. This program is available with up to 95% financing and is available for both Purchase and Refinance in addition to being available for real estate investors with sufficient equity or down payment. The No Documentation Loan is available in our Conventional and Non Conforming Mortgage Product Lines with both Fixed rate and Adjustable Rate products being available for this program. Non-Owner Occupied Loans We offer a wide range of residential real estate investment term and options for the savvy investor. From the full spectrum of adjustable and fixed rate mortgages to Full Documentation, No documentation, NINA, No Ratio, and State Income mortgage products. These products include financing options from our 100% full documentation program to 80/10 and 75/15 piggie back programs. First Time Home Buyers If you're a first time homebuyer, one of the most difficult obstacles to overcome is the fact you have no "mortgage" history with which a lender can review to make a sound decision. In these situations, length of employment - job stability - income to debt ratios and past credit history become highly pronounced in the conventional residential home lending market. We offer several low rate alternatives which help you to achieve your dream of buying a home at highly competitive rates. The most effective residential mortgage is the FHA Loan. This program allows credit dings and typically bellow market rates for comparable conventional programs. Eligible Veterans will find the same benefits and 100% financing with the VA Mortgage Program.
Down Payment Assistance Depending upon your credit, job history and rental history, some buyers will simply need to have some form of down payment to "invest" in the prospective home purchase. Property Taxes The property tax you pay can play a huge role in the amount of home you can actually afford to purchase. On average, property taxes on a residential home purchase make up a good percentage of a home buyers monthly mortgage payment when included in the PITI factor for qualifying. We highly recommend that our customers review the property taxes on any home with one of our associates prior to contracting. |
