Welcome!

I am an Atlanta native and made the decision in 2007 to leave my job as an architect/urban planner to get my real estate license. This was a difficult decision but has been great since my very first day in my new career and I am really enjoying it! It is so rewarding helping people find that perfect home, and it allows me to continue to satiate my love of good architecture and great neighborhoods!

I attended Georgia Tech (GO JACKETS!!!!) which is where I met my husband. For almost a decade we lived in one of Atlanta's fabulous in-town neighborhoods in a great 1920's Craftsman bungalow with our two dogs and two cats. Following the birth of our first child, we bought a foreclosure in the west Buckhead area and fully renovated it using an FHA 203k loan, which was a fun and sometimes daunting process. And just prior to the birth of our second child, we purchased and renovated a home in downtown Historic Roswell, completing our personal tour of some of Atlanta's best neighborhoods to live in!

I decided to create this blog in order to share useful information and resources about the real estate market and home buying process, as well as hopefully bring some humor and levity to what is often a complex and intimidating process. Enjoy!!!

Tuesday, April 14, 2009

FAQ: Buying a Home

Q: Speaking of down payments, do I need one? 

A: I hesitate to even answer this question as the lending laws seem to be changing on almost a weekly basis but the short answer is YES. The days of 100% financing and interest-only loans are in the past. As of today (4/14/09) the best option for most people is an FHA loan, which allows you to only put 3.5% down and typically has the best rates. However, FHA loans have more stringent requirements for both the borrower and the house so not everyone qualifies. If you cannot do an FHA loan, your next best option is a conventional 30-year fixed, which requires at least 10% down. 

Like I said, the requirements are constantly changing which is why it is SO important for you to work with a really good lender. The are the most up-to-date on what is currently going on and the good ones will work their tail off to find you the best possible scenario. I have several great lenders that I work with a lot which I am happy to recommend to you, just ask!

You can find out more info about FHA requirements here.
Posted by Alix Nadi at 6:07 PM
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