Is Cornerstone Rehab Loan Right for You?

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 621-6085 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, a good friend of ours from Cornerstone Home Lending Inc joins us to talk about a great new loan they offer. The question many homeowners want to know is, "How can you get money in your mortgage to fix or rehab a house?" Today, our friend Russ Tanner answers just that.

The answer to that question used to be you either get an FHA loan for around $2,000-$3,000, or you go to a local bank for a short-term construction loan before going to a lending company to get a permanent long-term fixed-rate type mortgage. Either way, you're making separate payments and are often getting not so favorable terms.

We're happy to introduce the Cornerstone Rehab Loan, which allows you to get one loan to both buy a home and do the renovations you want to. It's a streamlined way of borrowing money - you only have to close one time, with one set of fees. If you have the plans ready and get the specs in for an updated appraisal, you will be able to get this convenient loan.

It's designed to make the buying and renovating process a smooth, simple process. This rehab loan can save you a lot of headache if you were worried about getting a construction loan, about having to get two separate appraisals, and about dealing with two sets of closing costs. 

If you want a streamlined process that makes renovating your home a whole lot easier, give us a call. This loan also provides you with the benefits of being fully approved, which gives you the upper hand when competing with other buyers. Feel free to reach out to us with any questions you have about this great opportunity. We look forward to hearing from you!

Multiple Options for Mortgages

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 621-6085 for a FREE home buying or selling consultation to answer any of your real estate questions.

Today, we want to talk about a few types of long term mortgages that most buyers use when they decide to purchase a house. There are a few different options out there, and depending on your situation, you could get a really nice loan and interest rate in this market.

Conventional mortgages are probably the most popular kind. There are a lot of options on this loan as far as down payments go. You can choose to pay 3%, 5%, 10%, or 20% down. The advantage of putting at least 20% down is that you can avoid the private mortgage insurance that you would have to pay with a rate any lower than 20%.

There are a few options for mortgages that don't require a down payment. VA loans are for active duty military or veterans. This loan comes with no down payment as a way to thank military members for their service. Another option for a no money down loan is a USDA loan. The catch with a USDA loan is that it has to go towards a rural development property.Nothing in Clark County qualifies, but there are properties close by that do qualify. Give us a call if you are interested in this type of loan and we can let you know where it will work. 

One of the other most popular types of loans are FHA loans. They can be obtained with a little lower credit score and you can have this loan with only a 3.5% down payment, with closing costs being rolled in.

If you've been thinking about buying, now is a good time. Interest rates are really low, and they will increase soon. Locking in a rate now could save you thousands down the road. If you have any questions at all about mortgages or anything else real estate related, let us know. We'd be glad to help. 

Why There is no Substitute for a Real Expert

Looking to buy or sell a home in Athens, Georgia? Click here to perform a full home search, or if you're thinking of selling your home, click here for a FREE Home Price  Evaluation so you know what buyers will pay for your home in today's market. You may also call us at (706) 621-6085 for a FREE home buying or selling consultation to answer any of your real estate questions.

Last video, we talked about Zillow, Trulia, and other home search websites. These sites are great tools or aids in beginning your home search, but that is all they are. They are tools or aids to help you in the home search process and in no way take the place of a real estate agent. 

A lot of great homes out there don't even make it to these websites before they go under contract. Just this past month, our team sold 3 of our listings to buyers we were already working with and didn't even have to bother putting them online. This benefits the seller because their home sells at or near list price and within a few days. It also benefited the buyer, as they had the first pick of the great homes we were selling. 

If you are a buyer or seller, don't depend on a website to find you your perfect home. You need to contact a good agent so that you can make the most out of your real estate transactions. If you have any questions about these websites or why an agent is your best bet, please give us a call or send over an email. We'd love to discuss the topic with you.