August 13th, 2021 by Inlanta Staff
With summer coming to an end, it means “back to school” for millions of college students across the country.
Packing up to move into campus housing is often expensive and not necessarily homey. It also means investing in housing that’s not tax-deductible, nor does it create any long-term equity or income potential.
For parents with college-bound students, or even investors looking for their next property, this is an ample opportunity to purchase a rental property near a college campus.
Buying a property near a college or university is an excellent investment when you consider: Read the rest of this entry »
July 8th, 2021 by Inlanta Staff
One most exciting phrases to hear for homebuyers purchasing during a seller’s market is, “Offer Accepted”.
If you are in the market searching for your next home, vacation home or investment property you know that the mortgage pre-approval is the first and most important step in the process. The pre-approval process is even more important during a seller’s market to ensure the Seller’s Agent and Seller’s themselves are confident in the strength of your approval. Read the rest of this entry »
July 15th, 2020 by Inlanta Staff
We are excited to bring you our new Hybrid Mortgage EClosing. This process allows us to further practice social distancing by having most of the closing documents signed electronically, continuing a smooth and efficient mortgage process. E-documents are reviewed in advance with any questions answered and the time spent in-person at the title company is greatly reduced. Read the rest of this entry »
July 2nd, 2020 by Inlanta Staff
The Coronavirus (COVID-19) has had many affects on the mortgage lending industry, but these are not unfamiliar adjustments. The industry had experienced similar overnight changes during early 2008. The difference this time is not a housing bubble, but a global health crisis.
COVID-19 caused immediate layoffs and slowing of the economy requiring mortgage lenders to quickly adjust with lending restrictions, additional verifications and even Read the rest of this entry »
April 22nd, 2020 by Inlanta Staff
We are living through challenging times that will one day be found in history books throughout the world. In Michigan, the Stay at Home Order was just lifted on June 1st. This order caused non-essential workers to be home more then ever before and many are realizing their current space is too small, their layout is not functional, there is not enough storage, they are sick of paying their landlord or listening to their neighbors through paper-thin walls to name a few complaints. So, why not use this extra time to look at buying a house that will bring some joy back to being at home?
There is no better time to start looking at options for purchasing a new home, but is it possible to buy a home right now?
Some general facts you need to know before getting started in the home buying process during the COVID-19 outbreak:
- You must be willing to embrace technology.
- Mortgage Lenders are considered essential and are closing mortgage loans every week for purchases as well as refinances.
- Every individual situation must be evaluated as there is not a one-size-fits-all option.
- It is OK to get started by creating a home buying plan, but NOT purchase right away if you are uncomfortable with current conditions. Your safety and confidence are of utmost concern when purchasing a home.
Read the rest of this entry »
April 10th, 2020 by Inlanta Staff
These are trying times with many Americans facing illness, mental and emotional fears topped off with financial pressures. It is important to have a clear understanding about Mortgage Forbearance before making decisions.
Mortgage Forbearance IS NOT Forgiveness
The Care Act has been passed by the government to all for “Federally Backed Mortgages” to request a forbearance on their mortgage payments for up to 6 months, depending on the individual situation. So what is a forbearance? A forbearance is an agreement with your mortgage servicer to reduce or delay regular payments for a set period of time. When the forbearance period ends payments will be due as agreed upon in the forbearance agreement.
For those in a position where you have no ability to pay your mortgage a mortgage forbearance could be exactly what you need to keep your home and manage through this crisis. It is imperative to explore ALL other alternatives as this IS NOT a handout from the federal government.
The process for which forbear mortgage payments will be made up is going to depend upon the mortgage servicer and their policies. In some instances once the 6 months are up the next payment will be due as usual as well as ALL 6 payments that were put into the Forbearance.
If you are in a situation where payments will be missed and need help, contact your mortgage servicer because you must request forbearance; it is not automatic. Make sure to do the following:
Read the rest of this entry »
March 19th, 2020 by Inlanta Staff
During these uncertain times, Guild Mortgage Inlanta is here for you.
Like so many of you, we have spent the last several days and weeks learning about COVID-19 and how it is impacting our world. For Guild Mortgage Inlanta, that means understanding how it affects our customers, referral partners, employees and communities, and then making the necessary adjustments to our day-to-day operations.
With the state-mandated shut-down of businesses, we want to assure you that Guild Mortgage Inlanta will remain fully operational and working on your loans as we are included in the list of essential businesses providing banking and financial services.
We have taken proactive steps to put your safety as our highest priority, while maintaining the high productivity of our business operations. We are committed to providing you with the same high level of service, and continuing to close loans as we always have – on time and without surprises.
With that in mind, we have made several adjustments to our business:
- Our Ada office is closed with employees working from their home offices.
- We continue to assist clients and partners via phone, email, chat, our IMhome app or an online meeting. We are prepared and able to operate as we always have in order to keep all loans on track.
- We have canceled all large meetings, as well as our community events and seminars, in an effort to do what we can to help prevent the spread of the illness.
- We are closely monitoring the situation and will continue to respond as necessary to keep everyone safe.
We are grateful to have some of the best technology available to keep things moving without interruption.
We know this is a difficult time for everyone and we thank you for your trust and continued loyalty.
For additional information about COVID-19 and actions you can take to help protect yourself, please visit a trusted resource such as the Centers for Disease Control and Prevention at cdc.gov.
March 1st, 2020 by Inlanta Staff
Michigan is a state full of life and a love for the outdoors, arts, food, beer, and wine! Each city is a unique experience of landscapes, cultures, and year-round events. Here are our top 10 attractions that are at heart, “Pure Michigan”.
This is just a short compiled list of some of our favorite attractions: Read the rest of this entry »
February 16th, 2020 by Inlanta Staff
One of the biggest hurdles that First Time Home Buyers face is saving up for the down payment. There are many misconceptions that home buyers need to have at least 20% down; which can add years to the buying process for the funds to accumulate. When a home is purchased with less than 20% down there is required PMI (Private Mortgage Insurance) that is added to the monthly mortgage payment.
Paying PMI may be in the best interest of many first time home buyers due to the rising interest rate and home price environment we are currently facing. Additionally, as a new home owner they can begin to build equity immediately instead of waiting for years to have the 20% down payment saved up.
Take a look at the graphic below for the recent Home Price Expectation Survey, which shows an example of a home owner who purchased in January that would gain nearly $50,000 in equity over the course of five years based on the home price appreciation alone.
So what does all this mean?
As a first time home buyer, you should start a conversation now about all your mortgage financing options instead of waiting. Our Inlanta Team can easily layout these options and put together a plan for what is best for your individual situation. You may end up deciding to purchase right away or take some time to better prepare.
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