Married 30 years, with three daughters and a grandson, I have a strong sense of family. This contributes to my goal to help families get into the home of their dreams with the lowest possible overall cost. I want to assist families get into a home at the best rate and a price they can afford so that they can have a great, comfortable lifestyle. I have now assisted multi generations of families get into their homes.
For your convenience, our most common customer mortgage questions are answered right here. Not finding what you want? Reach out to Dan McKenzie of Alpharetta's Options Mortgage Services. Managing Partner at Options Mortgage Service Company of Alpharetta and a resident of Buford, GA, I have been originating mortgages for 16 years. Because the Home Loan is such a weighty decision, I decided I had to commit to being an expert for my clients.
As your mortgage loan officer you can count on me to provide you with the utmost care, attention, efficient service and a competitive edge.
For your convenience, our most common customer mortgage questions are answered right here. Not finding what you want? Reach out to Dan McKenzie of Alpharetta's Options Mortgage Services. Managing Partner at Options Mortgage Service Company of Alpharetta and a resident of Buford, GA, I have been originating mortgages for 16 years. Because the Home Loan is such a weighty decision, I decided I had to commit to being an expert for my clients.
As your mortgage loan officer you can count on me to provide you with the utmost care, attention, efficient service and a competitive edge.
Services
Whether buying a home for the 1st time or selling your home, to purchase a home, you will spend a great deal of Time, Energy, Effort, and Money looking for and selling a home.
In addition, you will probably enlist the help of a professional realtor to guide you thru the process.
You do not want to do all this work only to find out that you cannot qualify for a home loan.
PAIL - Property, Assets, Income, Liabilities - these are the keystone items that we get and verify throughout the loan process.
In addition, you will probably enlist the help of a professional realtor to guide you thru the process.
You do not want to do all this work only to find out that you cannot qualify for a home loan.
PAIL - Property, Assets, Income, Liabilities - these are the keystone items that we get and verify throughout the loan process.
When determining the best loan program for a client, we are looking at about 12 factors that can change the rate, closing costs, and even how much home they can afford.
Among these factors are Property Value, Credit score, Debt to Income Ratio, Loan to Values, Loan program, Occupancy Type, Loan Terms, Types of Collections and charge offs on the credit report, es-crowing or not es-crowing, Zip Code location of the home, property type, and Loan Type.
When all the above factors are taken into account, we can determine rates, Closing costs, the best program.
Among these factors are Property Value, Credit score, Debt to Income Ratio, Loan to Values, Loan program, Occupancy Type, Loan Terms, Types of Collections and charge offs on the credit report, es-crowing or not es-crowing, Zip Code location of the home, property type, and Loan Type.
When all the above factors are taken into account, we can determine rates, Closing costs, the best program.
I was talking to some of my Referral Partners and they said it would be helpful to have an overview of the Mortgage Loan programs available in today's market.
Conventional (Fannie Mae, Freddie Mac), Loan amounts to $417,000, Credit scores: Generally higher 680 plus, Normally 5% down with PMI, but 3% down is available(FHA is a better alternative with less than 5% down).
PMI can be taken off after the Loan to Value of the Home Reaches 80% of purchase price or in some cases current market value.
FHA - Loan amounts in the Atlanta Area to $342,700, outside Atlanta to $271,050, Credit Scores as low as 585This score is almost like a Unicorn, most FHA's need to be 620 plus to get approved.
Conventional (Fannie Mae, Freddie Mac), Loan amounts to $417,000, Credit scores: Generally higher 680 plus, Normally 5% down with PMI, but 3% down is available(FHA is a better alternative with less than 5% down).
PMI can be taken off after the Loan to Value of the Home Reaches 80% of purchase price or in some cases current market value.
FHA - Loan amounts in the Atlanta Area to $342,700, outside Atlanta to $271,050, Credit Scores as low as 585This score is almost like a Unicorn, most FHA's need to be 620 plus to get approved.
That being said, I wanted to go over some of the Myths I see First Time Homebuyers buy into.
Your credit has to be perfect or near-perfect: While there is no doubt that a high credit score helps in getting a home mortgage, a not-so-high credit score is not a deal-breaker.
If you have some credit blemishes and financial scrape-ups but for the most part pay your bills on time and make steady income, you probably don't have much to worry about.
You must have a 20% or more down payment: This is a matter of preference, not necessarily a requirement.
Your credit has to be perfect or near-perfect: While there is no doubt that a high credit score helps in getting a home mortgage, a not-so-high credit score is not a deal-breaker.
If you have some credit blemishes and financial scrape-ups but for the most part pay your bills on time and make steady income, you probably don't have much to worry about.
You must have a 20% or more down payment: This is a matter of preference, not necessarily a requirement.
I have seen a rise in VA loan applications these last couple of weeks.
So, I wanted to go over the basics and some different scenarios where I have used the VA loan to the clients Benefit.
Interest rates are similar to FHA, which are much lower than Conventional and there is no Monthly Mortgage Insurance.
There is however a Up Front Funding fee that the borrower does not have to pay out of pocket, but is normally financed into the loan amount.
Basically, the funding fee is 3.3% for 2nd time use and 2.15 for 1st time use.
So, I wanted to go over the basics and some different scenarios where I have used the VA loan to the clients Benefit.
Interest rates are similar to FHA, which are much lower than Conventional and there is no Monthly Mortgage Insurance.
There is however a Up Front Funding fee that the borrower does not have to pay out of pocket, but is normally financed into the loan amount.
Basically, the funding fee is 3.3% for 2nd time use and 2.15 for 1st time use.
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