3br - Want to buy? Need Help? (Atlanta)
People are generally scared of the cost involved with buying a home. Others are afraid of qualifying for a home loan. Here are some very simple facts and a simple calculation that I hope eases any fear you may have.
A 3 bedroom/2 bath home that would rent for up to $1600/month would sell for up to $150,000 depending on area. The requirements for an FHA home loan are easier to meet than the requirements for renting a home. Did you know?
The new minimum credit score for an FHA loan is 580.
That means bumps are ok.
Bankruptcies, foreclosures, and short sales are not automatic disqualifiers for a home loan.
The math for buying the $150,000 home not considering taxes, insurance, and pmi would look like this:
Sales Price: $150,000
Down Payment (3.5%): $5250
Monthly payment based on 30 years @ 6%: $899
If the down payment concerns you ask me about the $100 down payment program for buying HUD homes. When you break the big picture down to small pieces it isn't so scary right?
My name is Wes with Atlanta CityRelo and I can be reached at 770-402-4005. Call me today and let's get to work on your new home!! Be sure to ask me about our 1st time buyer workshops. To start your home shopping visit our website at www.atlcityrelo.com . If you see something you like and/or if you setup a search make sure you put "Working with Wes" in the comments section.
**Photos included with this ad are of a 3bdrm/2.5 bath townhome that sold for $109,000.**
- do NOT contact me with unsolicited services or offers