Compare Different Brokers and Lenders in Atlanta

Find the Lowest Rate for Your New Home

Whether the housing market is stable or unbalanced you should not fear the Atlanta mortgage industry as long as you do your homework. Everyone may not qualify for mortgages and beyond the housing boom of the early 2000s the mortgage lending business everywhere, including Atlanta, is a bit less maverick. But if you are well-positioned financially, have a stable income, and are looking for a good housing buy your chances to qualify for a loan are good.

Borrower Beware

Because the Atlanta home market was so explosive, rogue mortgage brokers were able to thrive. In the wake of the housing boom the city has realized just how many lenders were really fraudsters. Before you pursue a mortgage lender in Atlanta, make absolutely sure you know who you are dealing with.

Types of Loans Available

But what type of mortgage loan choices might you find in Atlanta? Atlanta remains a hot housing market, even while other metro areas in the country have faltered. So there are a handful of options when it comes to mortgage types. Atlanta mortgage lenders may offer a combination of:

• Adjustable rate mortgages
• Fixed-rate mortgages
• Jumbo mortgages
• Hybrid mortgages
• Interest-only mortgages
• Second mortgages

The biggest brouhaha is over adjustable rate mortgages (ARMs)—those that many home buyers in Atlanta once qualified for on the sheer hope of a bigger income, someday. And Atlanta-based mortgage lenders kept pace on lending. But an unstable housing market can put many ARM buyers at risk, even in this very good market. Only discuss an ARM loan with your Atlanta mortgage company when you are confident that you can overcome real estate and interest rate fragility. In the long run, many experts have proven that an ARM can actually be the best option when managed correctly.

Taking Out a Second Mortgage

In housing sturdy Atlanta homeowners with a good investment may easily qualify for second mortgages. Most borrowers turn to a home refinance like this to mine the equity they’ve already built into their home. They may want to make structural improvements, or opt to use a home equity line of credit for college costs or any of a number of high-dollar spends. In many Atlanta neighborhoods, housing values remain strong and sales steady which means, too, that homeowners have plenty of second mortgage home loan options.

• If you are exploring your chances for a mortgage loan in Atlanta, make sure your credit is in tip-top shape.
• Talk to a reputable mortgage lender for the financial products right for you.
• Use a mortgage calculator to estimate the cost of your loan.