Georgia Home Buyer's Agent Rebate

With the mortgage market in disarray, many buyers will have to seek out VA or FHA loans to obtain financing. If you are in the military or a discharged Veteran, then chances are you qualify for a VA loan. VA loans provide 100% financing without MI (mortgage insurance). Traditionally, unless a borrower has 20% for a down payment, then the borrower is charged a mortgage insurance premium on a monthly basis; this can equated to hundreds of dollars per month. With a VA loan, however, mortgage insurance does not apply. Hence, the VA loan has saved you money.

Then there's the FHA loan. FHA (Federal Housing Authority) provides government backed insurance to lenders that allow many borrowers to obtain financing with liberal underwriting guidelines. It's like an insurance policy for the lender in the event the borrower defaults on the mortgage. In many cases, the borrower can use a down payment assistance program in conjunction with the FHA loan to obtain 100% financing. There will be, however, mortgage insurance charged on a monthly basis. Two of the more known down payment assistance programs are Nehemiah & AmeriDream.

When obtaining a VA, Conventional or FHA loan from any mortgage lender, use a buyer's agent real estate rebate to lower your transaction costs (closing costs).

To get the most out of your VA, Conventional or FHA loan, use a realty rebate to reduce your interest rate (buy down), pay closing costs or reduce the price of your new home in Atlanta, GA. A cash back rebate at closing, when used in connection with your VA, Conventional or FHA loan, reduces the cost of buying a new home by thousands of dollars. This cash back rebate is in addition to all seller or builder incentives, credits, discounts and promotions; use your own lender too. Read the actual closing rebate testimonials.

Furthermore, a buyer is entitled to a buyer's agent to promote the interest of the buyer -- not the seller, builder, mortgage company and/or closing attorney. With most new home purchases in Atlanta, the seller, builder, the builder's agent, the mortgage company (preferred lender) and the closing attorney are all working together. A buyer needs their own buyer's agent who has no affiliation with any of these parties.

By using us as your buyer's agent, there is no out-of-pocket charge to you and we will pass along a commission rebate to you that would not ordinarily be given to a new home buyer. You potentially save thousands.

Click here to search all Atlanta New Homes

Stephen (Steve) Graham
Associate Broker - Buyer's Agent
www.georgia-new-homes.net

VA & FHA loans - New Homes Atlanta, Georgia

Inflation is certainly moving higher. It seems like all of our daily items are getting more expensive by the day. This can be directly attributed to the cost of oil. Ben Bernanke, the Fed chief, sees this as a problem going forward.

It seems to me that the housing market started to drop off when gas shot up in 2005. Aside from the very well off, high oil prices affects everyone. It makes people reassess large purchase items because of the uncertainly of oil prices. What's more, with inflation looming, the likelihood of low mortgage rates is minimal. This is a double whammy for the housing market.

There are pros and cons with all things in life, including the manner in which to handle the economy. While I personally believe in personal responsibility, I do question if it is practical in today's world? After all, people will do whatever you allow them to do; I have found this to be true time and again in all aspects of life. Irrespective of your personal beliefs on this matter, the mortgage/real estate debacle has certainly fueled the fire for those who argue that we need bigger government to oversee the economy.

What say you? In principle, a free economy wins the day. But what about in reality?

When searching for new homes in Georgia, determine which area. If you're looking in metro Atlanta, here is a directory of all listed new homes from all home builders. While searching is made convenient via online access, you will mostly like have to rely upon each community's directions to actually locate them. Since these homes are new, and the roads too, a Google map may be of little help -- if at all.

Before visiting any communities, research the benefits of a new construction buyer's agent. If you see the value that such a professional brings to your transaction, you need to register that person as you visit the communities. Many communities will ask a potential home buyer to fill out a registration card upon their first visit; and generally, that card will ask if you are working with a buyer's agent. I would advise potential new home buyers not to get to specific with builders' agents about their home buying situations; those remarks can be used against them if a decision is made to start negotiations. A buyer's agent can delve deeper into the reasoning behind this protective step. If you decide to fore go a buyer's agent, then you should consider hiring your own attorney, as a closing attorney in Georgia only represents the lender in a real estate transaction.

While a buyer's attorney can assist with negotiating price and terms on new homes in Georgia, such a person will probably not have access to certain data that is availabe to real estate brokers; such data can be very revealing during the negotiation process.

Realty Professionals, Inc.
Georgia New Homes
Atlanta, Georgia -- GA

New houses in Atlanta are plentiful. Everything from townhomes, condos, lofts and single family new houses are available by many new home builders. New home buyers can obtain FHA, VA and conventional loans to finance their new house.

To search all Atlanta New Houses click here.

Looking for tips when buying a new home? A home buyer may be looking for a new home because new construction is appealing, as such a person does not want to inherit someone else's problem with an older home. Undetected leaky basements, old furnaces and worn roofs are not something a home owner wants to contend with after they have just taken on mortgage payments. Who can blame them? This can become a persistent course of events with older homes.

Alternatively, new homes provide the most up-to-date features -- low-E windows, energy efficient HVAC systems, engineered flooring systems, new plumbing pipes, high-speed data lines & much more.

What's the first step? Look for a reputable lender to see about your qualification merits. Next, you may consider hiring your own buyer's agent. Afterward, find a good website focused on new homes and new construction.

Before visiting new home communities, know all the details and tips of the new home process so you can make an informed buying decision. By stacking as many cards in your favor, you can make this a smooth transaction.

First-time home buyers in Atlanta, Georgia face a plethora of choices. There are many Atlanta new homes on the market for the buyer to choose from; everything from town homes, condos, lofts & single family new homes are available. There are many buyer incentives too. A lot of Atlanta Home Builders are paying closing costs, offering appliances and new 2-inch wood blinds, as well as other incentives and discounts.

However, don't just settle for builder incentives; get a buyer's cash back commission rebate too. By using a buyer's agent who will gladly rebate some of the earned commission, you can maximize your transaction. A rebate puts money back into the hands of a buyer; this may be thousands of dollars that a first time home buyer would not ordinarily receive. Learn more about a Cash Back Rebate for new homes.

As with new homes, home buyers can save on existing properties too. In addition to negotiated incentives from the seller, the first time home buyer can obtain extra savings by means of this buyer bonus, also know as a rebate.

The importance of a buyer's agent is derived from the principle that there are potentially many pitfalls associated with a real estate transaction; things you may never even think of. Caveat Emptor (buyer beware). A buyer's agent is your represenatative and advocate during the purchase. A home buyer should seek out a good buyer's agent who is focused on saving the buyer money through strong negotiations throughout the entire transaction; for homes listed in the MLS, the commission for the seller's agent and the buyer's agent is already built into the final price of the home. Perhaps, the home buyer doesn't need full service from their buyer's agent because they are willing to incur some of the legwork when shopping around or researching. In that case, a buyer's rebate at closing might be appropriate; this is merely a price reduction of buyer-agency services directly to the home buyer. While there is generally no direct cost to pay for a buyer's agent, the buyer bears some of the burden for real estate commissions through the price of the house, even though the seller appears to pay for it all.

Stephen Graham, Realtor®
Realty Professionals, Inc.
Buyer's Agent

This is a topic that might infuriate some of you who are in the real estate industry. If you are a mortgage lender or loan officer with integrity, then you should not be offended -- nor is this directed at you. There are just as many real estate agents who have no integrity too. With that said, I wanted to question whether a loan officer has specific duties to protect a client (borrower)? Is there no formal relationship established with the buyer to look out for them? It seems that loan officers and lenders can charge whatever they can get the buyers to pay and place them in loans that benefit the lenders, not necessarily the buyers.

As a buyer's agent focused on new homes, I was recently caught up in a tangle with a loan officer regarding the interest rate being charged to my client for a VA loan. To my knowledge, the borrower did not have bad credit; thus, there was no need to charge a higher interest rate. This lender was a preferred lender for a particular builder, so this could have given them a sense of exclusivity. The loan officer was charging $1,750 toward discount points to give the buyer a rate that was being offered with no discount points by other local lenders. I confronted the loan officer on the issue and she was obviously evasive. This lender was free to charge whatever they wanted, and the buyer is free to go elsewhere too. And by the way, the borrower had never locked in, so that isn't a valid argument. The loan officer simply told me, in not so many words, that the rate is what it is -- and that's that. As a result, I was going to inquire on the buyer's behalf with another preferred lender about changing over. Once this came out, I was contacted by the supervisor of the original loan officer's company; we were all put on a three-way call conference. I simply explained to this person, and the loan officer, about the need to seek alternative measures because of a sense of manipulation. There was still a lot of evasiveness. However, at the end of the conversation, a resolution came about; the discount points were waived and the buyer was given an interest rate at par with the other lenders. This was less stressful, forasmuch as all of the buyer's documentation had already been submitted; this can be quite cumbersome. Therefore, the buyer was pleased with the outcome.

As a new homes buyer's agent (click to learn more), my number one concern is the well being of my buyer; this includes the negotiation of the terms with the builder, onsite agents, their preferred lenders and attorneys. Learn more about potential oversight on the closing statement. An unsuspecting buyer can get caught in cronyism through these preferred relationships. It is my job, as an independent advocate, to promote the buyer's interests. I'll go to bat for them.

Any thoughts? Are unsuspecting buyers without a good buyer broker (agent) at the mercy of loan officers who are out to make as much as they can? What duties do lenders have to their buyers (borrowers)? What industry standards are imposed upon loan officers?

Update 8/29/2008:

One of my buyers was seeking to obtain a loan through a builder’s preferred lender. I suggested that the buyer get a second opinion from another lender to keep everyone honest (after being in the business for awhile, I have learned to strive to hold everybody accountable). The second lender offered a loan with a .25% (¼) lower interest rate than the first lender. The first lender agreed to offer the same rate, but charged a $760 loan discount point without explaining that to the buyer. I caught it when a GFE (good faith estimate) was provided to the buyer by the lender. The buyer agreed to the discount point because this particular lender was more lenient with the buyer’s current employment. Fast forward 3 weeks. A few days before closing, I encouraged the closing attorney to prepare the closing statement (HUD-1) so I could examine its accuracy. Guess what? That loan discount point was now $1,520, which was twice as much as originally quoted. We confronted the loan officer and it was dropped back down to $760.

With the mortgage fiasco that has unfolded recently, we have to learn not to simply trust just anyone -- even so-called professionals; these people include real estate agents, home builders, appraisers, closing attorneys, loan officers, real estate investors and lenders alike. It takes an experienced eye to pinpoint these nuances within a real estate transaction that might be harmful to a home buyer -- and could possibly be deemed fraud.

Searching for New Homes For Sale in Cumming, GA (Georgia)?

Here are links to new homes and communities in Cumming Georgia -- Forsyth County. Home buyers can choose "Inventory Homes"; these are new homes ready for occupancy. Or conversely, buyers can have new homes built -- and that would take about 4 to 6 months.

While viewing new homes for sale in Cumming Georgia, I came in contact with a foreclosed bank owned property on the lake. Regrettably, the house has been neglected. It will take a fair amount of work to bring this house up to an acceptable appearance. In cases like these, a home buyer may consider contacting a home builder’s punch-out subcontractor to correct all these issues. While these items may seem to be overwhelming to many buyers, it is a pretty routine undertaking for an experienced punch-out person.

The key to such a situation in Cumming, GA would be to get the new home at the right price to cover the costs to fix such defects; learn more about negotiating a new home purchase. Not only that, but one needs a good home inspector to thoroughly examine everything to uncover any serious problems that may require a substantial amount of money to resolve.    

Since the property is a foreclosure, a home buyer needs to seek out an independent third-party warranty; this can possibly be negotiated in the contract. Depending on the type of coverage, such a warranty can offset costs associated with major problems for a finite period after the purchase.

Lastly, it would be very wise to purchase owner’s title insurance at closing. There were obviously financial problems by this original home builder in Cumming, Georgia. There could be unresolved, and possibly undetected, mechanic’s liens by former tradesmen who were not compensated; a future home owner would not want to take on such encumbrances.

Stephen (Steve) Graham
New Construction Buyer's Agent
www.georgia-new-homes.net