Quick Guide to Georgia Mortgages

2008-11-10 10:06:46

( Financial )



Some Things You Need to Know About Georgia Mortgages

The average market value of a Georgia home is lower than that of the national average. Yet, property values in Georgia have been appreciating steadily during the last few years, so real property in the area is quite attractive. Moreover, average mortgage rates in Georgia have been on a downward trend recently, and are lower than national averages. Georgia also has certain laws that protect the borrower like ceilings on points and prohibition of single-premium credit insurance policies.

Even if you are a first-time home buyer, you may be able to qualify for FHA loans which charge lower interest rates. The state also provides special advantages for home buyers who are former veterans, who have disabilities, or who are employed in the educational field. There are also special Georgia mortgages that enable you to borrow funds to finance down payments or allow you to waive principal payments for a few years.

Georgia requires realty companies to submit full disclosure reports of the properties to their prospective buyers. The disclosure, prepared by the seller, contains details about the property, specifically its boundaries and any hazards or potential problems it may have.

Looking for Georgia Mortgages on the Web

There are numerous Georgia mortgage companies, each one offering different terms and conditions. Fortunately, you don't have to hunt far for the right Georgia mortgage, as some sites are dedicated to providing you with information about them.

Most sites that feature Georgia mortgages also have built-in calculators to show you how much the monthly or annual amortizations will be, given the mortgage amount, interest rate and length of the term.

Some sites also provide useful advice and information about topics such as mortgage insurance, foreclosures, and refinancing. You can also look for sites that review the different Georgia mortgage companies and get their contact information.


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