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MORTGAGE RATE REPORT 5/1/2012
The following mortgage rates were reported by NEIGHBORHOOD MORTGAGE, INC.
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John Norwood
President/Sr. Loan Officer
678-549-9371
john@nloans.net
NMLS#138303 GRMA#26382
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John Norwood, President of Neighborhood Mortgage,Inc. founded the company in 2001. His years of mortgage expertise and an unwavering commitment to providing outstanding customer service enable him to provide you with the mortgage that best suits your needs. He, along with his support staff are dedicated to helping customers achieve their home buying goals and will work tirelessly to provide unparalleled service to make the mortgage process comfortable and easy to understand.
John’s numerous referrals are a tribute to his outstanding performance on behalf of his past clients. In 2007, John was personally ranked the 14th top producer by the Georgia Association of Mortgage Brokers resulting in Neighborhood Mortgage being ranked as the fourth top producing company.
Married with two children, John lives in Forsyth County where he enjoys spending time with his family, coaching on the side lines and volunteering. John also serves on the Board of Directors with the North Forsyth Raiders Lacrosse Team as Treasurer. Please give him a call today to discuss your financing options.
MORTGAGE CALCULATORS
USDA AFFORDABLE HOUSING PROGRAM
Make the dream of home ownership come true with the Affordable Housing Program for rural America.
More Families are Taking Advantage of the USDA Loan
In 2009 the USDA enacted changes that made millions of borrowers eligible for their rural mortgage programs. Many home buyers dream of purchasing a home but don't necessarily have the cash on hand to make the hefty 20% down payment required by a conventional home loan.
USDA mortgages stand alone as the only zero money down program available to borrowers that have not served in the military. Eligible borrowers will be hard pressed to find a loan program that offers more favorable terms.
Who Qualifies for a USDA Mortgage?
USDA Loans used to be considered "farmers loans" but that is simply not the case anymore. Just about anyone looking to purchase a home outside a major metropolitan area can qualify for a USDA Loan.
Some of the eligibility standards that determine if you qualify for a USDA loan for your home include what county and zip code the home resides in, your current income and credit history, as well as the number of dependents you can claim. Because these guidelines are very specific, it is important to work with a company that has experience dealing with USDA government financing to help determine your eligibility.
How it works:
- Provides 100% loan-to-value financing for existing homes or new construction based on appraised value.
- Available to low and moderate-income rural households.
- No requirement to be a "first-time" home buyer.
- Less up-front cash-to-close requirements for this program than for conventionally insured or FHA loans.
- No monthly mortgage insurance required. One-time guarantee fee, payable to Rural Development (RD) at closing, which may be financed above the appraised value, as follows:
- Purchases - 3.50% of loan amount
- Refinances - 1.00% of loan amount
- Fully amortized 30-year fixed-rate loans.
- No penalty for pre-payment.
- 2/1 Temporary Buydown available.
- No maximum loan limit. Loan limits are dictated by the applicant's income with respect to program eligibility and loan repayment ability. Previous ties to FHA loan limits have been eliminated.
- For depository institutions, USDA GRH loans provide opportunities to meet Community Reinvestment Act (CRA) goals.
Neighborhood Mortgage - 1835 Lockeway Drive Suite 306 - Alpharetta, GA 30004
Phone: 678-549-9371 Fax: 678-990-8601
Equal opportunity Lender
Neighborhood Mortgage is a Georgia Residential Mortgage Licensee # 16837 , Tennessee Registrant # and a HUD approved Lender.
National Mortgage Licensing System Registration #138234
www.Cozy-Cabin.us is owned by Ronald William Keaton who is a licensed REALTOR® of Solid Source Realty, Inc., 10900 Crabapple Rd, Roswell, GA 30075. Office phone (770) 475-1130 extension #6606. Solid Source Realty, Inc. is licensed in the state of Georgia, is an Equal Opportunity Employer and supports the Fair Housing Act. Terms and Conditions apply. MLS data provided by FMLS™ and GMLS™. Information deemed reliable but not guaranteed.
Click here for Terms and Conditions...
North Georgia Real Estate and Visitor's Guide
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