News Affordable Mortgages in Georgia- First Time Buyer Tips on...

Affordable Mortgages in Georgia- First Time Buyer Tips on Applying for Atlanta Georgia Mortgages


Affordable Mortgages in Georgia- First Time Buyer Tips on Applying for Atlanta Georgia Mortgages

Are you considering purchasing a new or pre-owned home in the Atlanta, Georgia area? If so, now is an opportune time to get the home of your dreams. A steady income and a reasonable down payment are two prerequisites for obtaining reasonable fixed rate mortgages in Georgia.

You’ll also want to get a credit check before applying for any type of home loan. This will help to eliminate any credit discrepancies beforehand. Remember, it’s much easier to correct a mistake on your report than it is to explain any credit report errors to a lender. Additionally, the lender may wonder why you didn’t bother to verify your credit rating ahead of time.

Get the Best Rates for Mortgages in Georgia- How Your Debt-to-Income Ratio Affects Your Mortgage Rate

In order to get the cheapest rates for mortgages, Georgia home buyers will want to pay off as much of their revolving and installment type loans prior to seeking lending assistance. While most prospective buyers understand they should pay off all or most of their credit card obligations and auto loans, some may forget to include their student loan obligations. Recent graduates with hefty student loans may wish to forego applying for a Georgia home loan for a few years.

Although debt-to-income ratios will vary slightly among banks and lenders, it’s important to know that a lower ratio will qualify you for more attractive loan rates. Also, keep in mind that you don’t necessarily want to borrow the total amount you qualify for. This can become a problem when applying for mortgages. Georgia lending customers need to keep in mind that it’s primarily their responsibility to make sure the loan gets paid.

Employment Requirements for Georgia Mortgages

Employment or proof of income is one of the top factors in obtaining a loan. Most lending agencies will require you submit a minimum two years of salary records. If you’ve worked three different jobs over the past decade, be sure to include all of your employment history. The longer you’ve been working, the more attractive you are to mortgage lenders.

If you’re self-employed and considering various options for mortgages in Georgia, the requirements are basically the same. When you go to apply for a loan, the bank or lending agency will require two years of income records. You can also increase your chances of getting a loan approval quicker by having your CPA or certified tax preparer write a letter verifying your employment history.

Affordable Mortgages in Georgia- First Time Buyer Tips on Applying for Atlanta Georgia Mortgages
General Contributor
Janice is a writer from Chicago, IL. She created the "simple living as told by me" newsletter with more than 12,000 subscribers about Living Better and is a founder of Seekyt.

Latest news

Japanese Owl Meaning and Symbolism

If you're wondering about the Japanese owl meaning and symbolism in Asian cultures, the Owl, along with Maneki Neko...

What Are the Signs of Depression in Women

Gender and depression have long been the scope of research in the field of emotional disorders; most authors believe...

Top 7 Superfoods for Men to Stay Young

Superfoods are generally regarded as targeted foods that provide the maximum nutritional benefit - thus these foods are nutritionally-dense...

Best Brain foods for Kids – Boost Brain Power and Keep Sharp

A child's brain is developing rapidly and if you want them to improve their performance in school and their...

7 of the Best Brain Foods for Studying

The foods that you eat can improve the functioning of your brain. Just like drugs, foods have amino acids,...

B12 Shots for Dogs – 10 Key Benefits

The end of 2010, my little dog -- a 7-pound Papillon -- became very stressed after a flood in...

Must read

Six considerable tips when buying off-plan property in Dubai

When buying an off-plan property in Dubai,...

Different Types of Alarm Systems

Home security systems come in all shapes and...
- Advertisement -

You might also likeRELATED
Recommended to you