Florida Mortgage News

We are living through challenging times that will one day be found in history books throughout the world.  In many states the Stay at Home Order caused non-essential workers to be home more than 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.

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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 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. Read the rest of this entry »

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. Read the rest of this entry »

Purchasing a home is one of the largest financial decisions of most people’s lives.  When the right REALTOR and Best Mortgage Lender are chosen the process becomes much smoother and you experience a “dream team”.  This team will be one you can trust with not only your financial information but more importantly, they will educate and guide you through the ins and outs of the home buying process.

The mission of the Guild Mortgage Inlanta is to be the Best Mortgage Lender that you trust to not only take care of your home financing but also your family, friends, and community. 

When choosing your “Dream Team” consider the following 3 Tips:

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Should you be using your Tax Refund for your Down Payment on a new Home?

In preparation for purchasing a home saving for the down payment can be the most challenging piece to the puzzle. Typically there is some sort of down payment or out-of-pocket expense for the home buyer. The average down payment is 3.5% – 5% of the purchase price of the home.  This makes tax time the perfect opportunity to maximize available funds for the down payment on a new home.

An IRS tax refund is a great, acceptable source for a down payment on a new home.  Even a small refund may be enough to provide you with an ideal amount toward a down payment.  The first step would be to begin the mortgage pre-approval process by either applying online, downloading our phone app to apply or simply give us a call: (800) 682-9819.  You can begin with the pre-approval right away, even before your tax return has been filed. Read the rest of this entry »