A jumbo loan is a mortgage on any property whose loan value is higher than the current “Conforming Loan Limit” of $453,100. The $453,100 figure actually goes into effect on January 1, 2018. Any conventional loans closed before then are limited to $424,100.
There is no maximum limit for jumbo loans.
The minimum down payment is 10%.read more
Owner’s title insurance takes up a sizable portion of your closing costs in a home purchase. It’s entirely optional, but most professionals involved in the transaction, from agents to loan officers to attorneys, strongly suggest you purchase it.read more
First things first: the below closing cost calculator is to help you estimate your closing costs. Please call for a more accurate estimate on a prospective purchase. Property taxes: See our post on property taxes to find your yearly tax bill. We use the most recent...read more
Finding property taxes on your prospective home can be difficult, especially with how hard to navigate county websites are.
We’re here to help! Visit the sites below to find what you need!read more
All About Gift Funds I get a lot of questions about gift funds. FHA and Conventional loans vary a bit in how gift funds are treated, but are largely similar. Let’s dive in! The primary measurement here isn’t necessarily “How much is allowed as a gift?”, but rather...read more
The Path To A Quick Close Buying a house wouldn’t be stressful if it weren’t for deadlines. There’s the due diligence period, there are the financing and appraisal contingencies, the closing date itself. It’s exhausting. We’ve compiled a list of what you can do to...read more
Lender Paid Mortgage Insurace (LPMI): What it is and when to use it. If you’ve chatted with me and you’re putting less than 20% down, then I’ve probably brought up the idea of using a loan feature called “Lender Paid Mortgage Insurance.” There is something about the...read more
1% Down Mortgages ATL Mortgage is proud to be one of the few brokers in the city offering conventional 1% down loans. What is it? Probably they first thing you should know is that our 1% down loan is actually a 3% down loan. Don’t worry it’s not as confusing as I just...read more
FHA 203K Renovation Loans: What are they? What are the renovation limits? How much do I need to put down? And everything else you wanted to know.
FHA 203(k) Renovation Loans: Everything you need to know. FHA 203K loans are the coolest loan option we have. In short, they allow you to borrow money to renovate a home you’re purchasing or one you’re refinancing. How does it work? What about the appraisal? What are...read more