Thinking of Buying a New Home?

Our commitment as a prominent financial institution in the community extends to our belief in homeownership.  Homeownership stabilizes the community, reduces crime and increases value.  Owning your own home provides several benefits!  In addition to the satisfaction of being a homeowner, you can...

However, buying a home can be a difficult process to navigate without the correct guidance and information.  We have teamed up with the mortgage experts at This email address is being protected from spambots. You need JavaScript enabled to view it. to ensure responsiveness to our members' needs.  We are on your side and are eager to help you throughout the entire process!

What works best for you?


Conventional            FHA         203K        VA            RD

Conventional

Conventional mortgages are the most popular loan option available today. It can be used to purchase a home or to refinance an existing mortgage. The interest rate remains the same through the term of the loan. Monthly payments generally stay the same year to year, giving members the ability to plan out their long-term housing costs. Like all of the loan programs we offer, there is no prepayment penalty, so you can make extra payments monthly or pay off the loan early without penalties or fees.

We also offer Adjustable rate options-  3,5,7-1 ARM's
The rate and payment are fixed for the first 3, 5, 7 or 10 years adjusting annually thereafter for the remaining term. If you plan to sell or refinance your home within 3 to 10 years, this could be the ideal mortgage for you.

FHA

The Federal Housing Administration (FHA) is an Agency within the US Department of Housing and Urban Development (HUD).  Established in 1934 as a Mortgage Insurer, not a lender, to assist homebuyers in acquiring property with small down payments.  It is the only government agency that operates entirely from its self-generated income and costs the taxpayers nothing (MI Premiums).  The program offers:

203K

Through the FHA 203k program, borrowers can purchase or refinance their home and include rehabilitation and repair costs in the same loan. This program can aid in expanding home ownership as well as can help revitalize the communities they serve.

This program can be used to rehabilitate or improve existing one-to-four unit dwellings in one of three ways:

  1. To purchase a home and rehabilitate it.
  2. To refinance existing mortgage and rehabilitate the property.
  3. To move existing dwelling to another site and rehabilitate it.*

*Loan proceeds for moving house will not be available until unit is attached to the new foundation.

Virtually any kind of improvement is eligible provided it becomes a permanent part of the real property and it adds value.

*Eligibility may differ between FHA 203k Full and Streamlined loans.

 Full  Streamlined
  • Requires a HUD Consultant
  • For Structural Repairs
  • Additions
  • Repairs > $35,000
  • Less Common
  • Up to 5 Draws
  • No Consultant Required
  • No structural repairs allowed
  • Maximum $35,000 TOTAL Rehab Account
  • Most Common
  • Limited to 2 Draws 

VA

The VA Loan has many advantages that make it one of the most appealing paths to homeownership – and this great benefit is reserved exclusively to those who bravely served our country and select military spouses.

When combined, the benefits of the VA mortgage allow service members and Veterans to take advantage of substantial cost savings under qualification requirements designed specifically for members of the military and their unique needs.

Eligibility


Rural Development Program

This program assists homeowners by providing low- and moderate-income households the opportunity to own adequate, modest, decent, safe and sanitary dwellings as their primary residence in eligible rural areas. Eligible applicants may build, rehabilitate, improve or relocate a dwelling in an eligible rural area. The program provides:


Thinking of Refinancing Your Existing Mortgage Loan?

Refinancing your real estate to reduce your mortgage payment or shorten your term is a great way to save thousands of dollars over the life of your loan.  Now is a great time to lock in to a low fixed rate if you currently are paying on an adjustable rate mortgage. today to see if you are eligible to use the equity in your property to consolidate debt or complete those wanted improvements.

Georgia Residential Mortgage Licensee