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Buying or Selling a Home/Home loan
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Question
I'm looking to buy a new home in Georgia. I'm interested in the loan
process. Every loan calculator says 250,000 loan is around 1100 per
month. But when I talk to the first loan agent they tell me a loan of
That size is around 1600 per month. Why so different. The interest rate
was both calculated at 4.5 for 30 years fixed rate. Is she trying to burn
me or is there a better place. She also said I qualified for a 100% loan.
No money down.
Hi Chris,
Definitley talk to more than one loan officer to find one that you trust.
As part of your mortgage payment you are required to pay into your escrow account to pay property taxes. I'm not sure what property taxes are in Georgia, but some states with high school tax have increased mortgage payments. Your hazard insurance is also included in that payment. Ask all of the loan officers you talk to for a Good Faith Estimate and you will be able to see exaclty how the numbers add up.
Best of luck!
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Jay Denit
Expertise
I'm a Real Estate Broker/Loan Consultant in the state of Colorado. We have a separate foreclosure investing company, so I'm more than willing to answer any Colorado foreclosure questions for both the home owner and investor. I have sold bank owned homes all across the country for all of the big banks. I'd be happy to answer any questions about buying or selling residential homes and specialize in luxury estates. Furthermore, I have some experience in land acquisition and development and know a touch about water rights. We are a licensed lender in most states, so I can answer general questions about all types of mortgages.
Experience
My experience is really anything that has to do with real estate. From buying and selling to investing and foreclosure, I’ve done it all. Being able to handle the acquisition and financing under one roof gives me the intimate knowledge of all facets of property conveyance. My foreclosure/bank owned property (REO) experience gives me the problem solving mindset to always find a solution.
Organizations
BARA- Boulder Association of Realtors
NAR- National Association of Realtors
CAR- Colorado Association of Realtors
Education/Credentials
Xavier University-- BSBA Finance
Colorado State University-- Professional Certificate in Project Management
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