We posted about the HARP Loan 2.0 updates in mid-March after the government’s new Refinance Program became available and offered new options that the initial HARP loan didn’t offer.

With the changes to the HARP Loan 2.0, homeowners who have mortgage insurance are now allowed to refinance, which means that current homeowners can potentially lower their current mortgage even with mortgage insurance. If you want to take advantage of the HARP program’s great opportunities, give The Mortgage Guys Atlanta a call so we can help refinance your home loan.

Related articles

• Do You Qualify for a HARP Loan?(mortgageguysatlanta.com)

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• New HARP Loan Updates(mortgageguysatlanta.com)

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Windows – Choosing windows in a home that have been recently replaced with energy-efficient windows replacing old windows with ENERGY STAR qualified windows can lower household energy bills by 7-15 percent. You also get the added benefit of avoiding drafts in the winter and sweltering areas in the summer.

Low or Zero-VOC paint – If a house has been painted with low or zero-VOC paint, it is especially good for homeowners with small children, animals or people with breathing problems like asthma and emphysema. VOC stands for volatile organic compounds, and with traditional paints, these compounds are released into the air as it dries, which causes air pollution.

Reclaimed Materials - Things like reclaimed wood floors, cork floors are gaining in popularity. Reclaimed materials are not only more affordable (as a whole), but they save the energy, material, and resources it would take to produce a new similar product.

Energy Efficient Lighting and Fixtures – A home with energy-efficient lamps which accept LEDs and compact fluorescent light bulbs, help save energy by using less electricity. Another item to look for is motion sensors and timers in rooms to keep lights turned off when they’re not needed.

In addition to these, location  and size are also important in choosing your next home. Keep in mind that smaller homes use less energy and require less materials during construction and location is key since you will want to be close to shopping, schools and your work.

Hopefully, these tips will help you if you’re on the market for buying a green home. If you’re currently looking to purchase a new home or know someone who is, contact The Mortgage Guys in Atlanta, GA. We’re happy to help!

Atlanta Sports

Atlanta Falcons. Atlanta Hawks. Atlanta Braves. For professional sports fans, Atlanta has an impressive set of teams. In fact, the Atlanta Braves season opener game against the Brewers is tonight at Turner Field.

Turner Field - Atlanta Braves play here - player memorial numbers (Photo credit: Wikipedia)

Atlanta Festivals

SweetWater Festival - Celebrate Earth Day with the Atlanta-based brewery’s annual festival in Candler Park. Enjoy the best of Sweetwater’s beverages while checking out the comedy tent, Planet 420 Kid’s Area, as well as plenty of local live bands. The festival also encourages attendees to make earth-friendly changes in our daily lifestyles.

Atlanta Dogwood Festival - The Atlanta Dogwood Festival has evolved into one of the largest events in the Southeast. This is the 75th year for the festival, which is held in Piedmont Park and displays works from the area’s best painters, sculptors, photographers, jewelry makers, glass blowers and other artists. A few more must-see attractions include live performance art exhibitions, interactive music workshops, and a food festival.

Atlanta Animals

Zoo Atlanta - Zoo Atlanta has just announced that animal lovers can now feed the giraffes at Twiga Terrace. Your whole family can get up-close and personal with these beautiful animals. Giraffe feeding runs daily from 10:00 am to 2:00 pm and is $3 extra per person.

Georgia Aquarium - The world’s largest aquarium, this aquarium boasts beluga whales, spectacular whale sharks, playful penguins and aquatic animals from around the globe.

(Photo credit: Wikipedia)

If you are looking to buy a home in Metro Atlanta, Georgia, you might want to learn a few things about your mortgage lender as well.  Finding your perfect house is important, but finding the right mortgage lender in Atlanta is equally as important.  Before signing on the dotted line, use these five questions to help find the right lender as well.

5 Questions to Ask Your Lender

1. Are you licensed by the state?
2. What are the loan programs that you offer?
3. Do different programs have different interest rates?
4. What documents will I need to have on hand in order to receive a full mortgage approval?
5. Will my payment increase at any point after closing?

These are just a few of the questions that you should be asking your mortgage lender.  Remember, that it is acceptable and expected for you to be extremely thorough with your lender.  Owning a home is a major decision, and most lenders will appreciate your thoughtfulness and time spent covering all of the bases necessary to insure that you are comfortable with the mortgage process.  If you have any questions about the mortgage approval process, feel free to contact the Mortgage Guys of Atlanta.

The five factors that will ultimately determine the spring housing market, according to the article, are:

• Weather – The mild weather has kept the market from slowing down, even in snowy places like the midwest
• Tight Lending – Tight lending has led many buyers to pay with cash.
• Foreclosure sales – Rise of foreclosure sales could affect the market this year.
• Location – Folks are looking at real estate on a much more local level, according to the author.
• Jobs – whether or not the job market improves

What is a credit score?

Basically, your credit score is the likelihood that you will pay back your loan. A credit score is a number generally ranging from 300-850 that’s generated at a lender’s request. The score, which is calculated through a specific formula that takes into account items on the credit report and other factors, attempts to rate the likelihood a consumer will honor future debt payments. There are five items that make up credit score:

Credit Scores (Photo credit: Casey Serin)

• Payment history – Makes up 35 percent of your credit score. Basically, if you pay your bills, your doing yourself a good service.
• The amount you owe – Makes up 30 percent.  The Credit Bureau looks at revolving credit cards.  This amount needs to be below 50 percent or else it starts to hurt your score.
• Length of Credit – How long you have had any line of credit makes up 15 percent of your credit score.
• New credit – Any new lines of credit make up 10 percent of your score.
• Types of credit – The different credit cards or loans you may have in your name.

How can I see my Credit Report?

There are a bunch of websites that offer free credit reports, but Annualcreditreport.com is the one where you can genuinely get a copy for free. We suggest that you check it at least once a year, as different situations could arise where your credit report is affected and you need to keep track of them. Figuring out your score on your own is kind of difficult, but keeping your bills low always helps ensure a good score, as well as making all of your payments on time. Also, keep in mind that tiny blemishes on your credit score can hurt your score for a long time. As they say, “it takes a lifetime to build good credit and you can ruin it in a minute.” This is unfortunately very true. Some websites offer an option to estimate what your current score is. These  show what will happen to your scores depending on certain situations, and is a good representation of what you can expect your credit score to look like.

If you still have questions about credit scores and how it may affect your mortgage application process, don’t hesitate to contact The Mortgage Guys in Atlanta, GA.

This change by the FHA is intended to increase the financial activity of the FHA mortgage program so that it does not need a government bailout like Fannie Mae and Freddie Mac.

Consumers will have a small window of opportunity to purchase or refinance using FHA financing under the old mortgage insurance structure. Applications must be turned in well before April 1st in order to beat the increase, but thankfully, transactions can close after that date. 

For those purchasing a home, rates are still hovering around historic lows and FHA allows a down payment of as little as 3.5 percent of the purchase price. For those interested in refinancing, FHA also has a streamlined alternative that allows a loan amount of up to 125 percent of the current value of a home if it is currently financed with an FHA mortgage.

Not sure if an FHA mortgage will benefit you?  Give the Mortgage Guys in Atlanta, GA a call in order to take advantage of purchasing or refinancing your home in Smyrna, GA or Metro Atlanta before April 1st to take advantage of these rates before they increase.

Photo courtesy of Flickr.

Image by Getty Images via @daylife

It has been rumored that Fannie Mae will be updating their underwriting system the weekend of March 17, 2012.  So, as of Monday, March 19^th, mortgage lenders should be able to run new loan requests through where the total debt to property value exceeds the 125% ratio. This is their automated (computerized) system that determines borrower qualifications.

Pricing for the Fannie Mae loanshas improved as of now.  Pricing is improved on owner-occupied primary residences for all loan terms (15, 20, 25 and 30 year fixed loans).

Also, the appraisal waiver component should be enhanced the weekend of March 17th.  Mortgage lenders can still receive appraisal waivers before the 19th of March but they will not be as extensive as what will see after March 19th. So, if you are waiting for the enhanced loan-to-value component or the appraisal waiver, hold off until March 19^th if you can.

If you’re unsure about whether you qualify for the HARP Loan or have other mortgage questions, don’t hesitate to contact the  Mortgage Guys in Atlanta, GA.

Related articles

• Do You Qualify for a HARP Loan? (mortgageguysatlanta.com)

Smyrna Market Village - The Market Village in the heart of the city of Smyrna, GA opened in October of 2002 and is unmatched in appeal and village atmosphere.  The Smyrna Market Village features 16 townhomes over 40,000 square feet of retail space, 18,000 square feet of office space and seven restaurants.

Vinings Jubilee – Located off of Paces Ferry Road, Vinings Jubilee offers a collection of boutiques, restaurants and one-of-a-kind stores.

Love Street Home and Gifts – A very unusual boutique store perfect for housewarming gifts and funky items to adorn your new Smyrna home. Heart and Sole Boutique is right next door and equally popular.

The Smyrna-Vinings area also boasts some of Metro Atlanta’s best restaurants – Noche,  Soho Atlanta, South City Kitchen and Cinco Mexican Cantina are just a few of the local restaurants within just a few minutes drive.

Upcoming events for the Smyrna-Vinings area include the Jonquil Jog on Saturday, April 28th as well as the Spring Jonquil Festival kicking off the same day.

These are just a few great places and events that the Smyrna-Vinings area has to offer potential homebuyers. For all your mortgage and home-buying needs, feel free to give The Mortgage Guys Atlanta a call.

Photo via Ken Cook

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• Saving for Your New Home’s Down Payment (mortgageguysatlanta.com)
• Resources For New Home Buyers (mortgageguysatlanta.com)