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Blog Image: Buying a First Home in an Expensive Area

Buying a First Home in an Expensive Area

For Americans living and working in the nation’s most expensive real estate markets, homeownership can seem like the impossible dream. Prices are high and options can be limited. It may feel like home values rise faster than your ability to save up for a down payment. Although the process may look different than in other parts of the country, becoming a first-time homebuyer in a pricey area is possible. Here are some suggestions for making that dream a reality: Determine Your Budget First, you need to figure out how much home you can afford. That number needs to be determined by yo...

July 1st, 2020 | Purchasing a Home, Buying a First Home in an Expensive Area

Blog Image: How Long Does a Pre-Approval Letter Last?

How Long Does a Pre-Approval Letter Last?

Getting pre-approved before shopping for a new home is a smart idea, but what if you don’t find the right home quickly? How long does that pre-approval last? Pre-approval Defined Before going out with a real estate agent to look for the perfect property, it is wise to get pre-approved with a mortgage lender. This means allowing the lender to run your credit and take a look at your income and assets to determine how much mortgage funding you qualify for. A pre-approval gives you a top number for your house budget to help define your search.  It also gives you credibility wit...

May 6th, 2020 | Purchasing a Home, Preapproval, How Long Does a Pre-Approval Letter Last?

Blog Image: How to Buy a Home During COVID-19

How to Buy a Home During COVID-19

With most of the country on shelter-in-place orders due to the outbreak of the COVID-19 virus, the homebuying process has undergone plenty of changes for those still looking to get into a home of their own. Buyers, sellers and real estate agents have had to make adjustments for the safety of all. If you are in the midst of your home search or ready to start, here’s what you need to know about buying a home during this challenging coronavirus environment. Virtual Shopping & Viewing Agents and sellers have had to get creative during this time of social distancing. Buyers have had...

April 8th, 2020 | Purchasing a Home, How to Buy a Home During COVID-19

Blog Image: Should You Buy a Second Home as Your First Home?

Should You Buy a Second Home as Your First Home?

There is a new trend catching on among younger urban residents: renting in the city and buying a vacation home as their first house purchase. This unconventional approach to first-time homebuying is one way for these buyers to achieve homeownership and all its benefits when they are priced out of their own market.  Real estate prices in most major U.S. cities are rising so high that it is virtually impossible for young professionals to start their home-owning journey within city limits. The creative solution of buying a vacation home while renting a primary residence in the city allows...

February 12th, 2020 | Purchasing a Home, First-time Homebuyers, Should You Buy a Second Home as Your First Home?

Blog Image: What Fees Are Included in My Monthly Mortgage Payment?

What Fees Are Included in My Monthly Mortgage Payment?

You think you understand how much your mortgage payment is going to be and then your first bill comes. There seems to be more included in your payment than you expected. What are all the fees in your monthly mortgage bill? Mortgage Principal Your mortgage principal is the base amount of money you needed to borrow to buy a home. For example, if you are buying a $200,000 home and you put down $20,000, your principal is $160,000. Almost all home loans are amortized, meaning they are structured so that the amount of principal you repay each month starts out small and increases over time. Dur...

December 18th, 2019 | Purchasing a Home, What Fees Are Included in My Monthly Mortgage Payment?

Blog Image: Jumbo Loans for Veterans

Jumbo Loans for Veterans

If you are a veteran or a servicemember, you are probably well aware of VA mortgage loans. These loans offer excellent benefits, including no down payment or credit score requirements as well as allowing borrowers to forgo mortgage insurance premiums.  But what happens if you are looking to buy an expensive property or you live in a pricier area of the country, where home prices exceed the standard VA loan limits? Is it still possible to take advantage of VA mortgage financing? Thankfully, the answer is yes! You can apply for a VA jumbo loan. Jumbo Loan Defined A jumbo loan is for a...

October 24th, 2019 | Purchasing a Home, Government Loans, VA Loans, Jumbo Loans for Veterans

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Atlantic Lending

4626 Concord Ave.
Baton Rouge, Louisiana Phone: 225-201-0006
Fax: 225-201-0009
Email: jmorris@atlanticlendingcompany.com
NMLS: 88406