Variables that determine YOUR interest rate.

I know lots of rates are quoted in radio, TV and online; but not all of those rates are available to everybody.  In fact, some of those rates might not be available to anybody without some add-on fees, etc.

Here are some items that will be used to calculate the rate on your purchase:

  1. Cost vs. Credit
  2. Closing costs – Borrower Paid vs. Lender Paid
  3. You can get 2% towards lender paid costs
  4. $650 to $895 fees for “origination”
  5. Buy-down (higher down payment) of the rate
  6. Your Credit Score, of course

Keller Williams – Highest Customer Satisfaction

Houzz – A great design website

I first found these guys as an iPhone application, but they have a great website as well at

You can look at various styles of homes and then also review different spaces from laundry rooms to master bathroom suites.

22 year old First Time Buyer – Questions

Sometimes it’s better to see what others are asking, and what the “helpful” replies are to a question about buying your first home.  Here’s someone in California that is seeking advice.

Return on Investment for First Time Buyers

In some states, like Colorado, there are agents who exclusively work with buyers.  This is a post from one of their associations.  In Georgia, we can work with both buyers and sellers, which is an advantage, because knowing how both sides are behaving in a market is a huge plus.

Here’s a link to the article: First Time Home Buyer: How I Plan to Make a Return on My Investment (Part One)

This article is more about “buying ugly houses” in great locations, which is a great strategy if you have the means and the time or the skill to fix up a property or at least manage the renovations yourself.

Rates Lowest since WWII.

Mortgage rates had tested the 3.75% mark 4 previous times but just could not breach below this mark until today. For the first time since WWII, 30 year fixed rate mortgages reached the 3.625% mark and there are signs that 3.50% could be the next milestone.

Rates moved lower this morning on employment news that showed that job creation may be once again slowing. Non-farm payrolls increased by 115,000 in April which is okay and was somewhat expected but it is a far cry from the 200,000+ number shown in February. Despite the unemployment rate dropping to 8.1%, its lowest level since 2009, Wall Street is having fears that the “recovery” may be slowing down once again. The 10 year treasury once again fell below the 1.90% mark and is now standing at 1.87% as of this report. If the 10 year can move below the 1.75% mark, look for 30 year fixed rates to land around 3.5%.

Purchase activity in the metro Atlanta Area has picked up quite a bit over the past two weeks with the hot purchase range being in the $150K to $250K range. Despite the recent rise in the FHA Mortgage Insurance Premium and up front Mortgage Insurance, FHA continues to be the hot product.

Worth Taking A Look AT….FNMA 7 year ARM is currently running in the 2.625% range…If you know you won’t be in the home for 7 years, this is an option to consider.

How soon after bankruptcy can you buy?

Here’s a great forum that I think may help answer this question.

Of course, nothing can replace the advice of a good lender / mortgage broker.  Programs changes all the time and vary from lender to lender and state to state.  Find someone who will work with you and get educated.

Another First Time Home Buyer / Blogger

I found this blog today and thought some of you might enjoy following someone else through the process.

As always, if you have any questions, and there are NO dumb ones, just ring me, text me, hit me on the hip, tweet me, like me, follow me or just send me an email.

2012 is the Housing Bottom?

You’re going to start hearing that we’ve hit bottom, just like this article in Realty Biz News.  Of course, we’ll never know until after the bottom has been hit and the rise has started, which won’t be too late to buy, but it won’t be the very best of the opportunities a market like this has to offer.

If you’re in the market for a 2nd home, first home, vacation property or investment / income-producing property; just give me a call.  I would love to help you out. Home Tips

I found this little site, and thought it has a great post and advice for first time home buyers.  If you’re purchasing your first home or know someone (perhaps a child) who is in the market to buy a house, point them here for some good advice.

The main point here is not to try and go it alone.  Ask around in your local area for a good buyer’s agent and a good mortgage officer to help you through financing and purchasing.  If you’re buying in the Atlanta, Georgia area, just give me a ring, I’d love to talk about representing you.  You can also click on my financing page at and click one of the logos to be put in contact with a great mortgage or loan officer.

I know home ownership sometimes seems daunting, but the feeling of having a place that is truly “home” is worth all the paperwork.